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TonyTax
TonyTax, Tax Consultant
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I have a second property which is out for rent at the moment

Resolved Question:

I have a second property which is out for rent at the moment should I be filling a tax form in, I am unemployed but not claiming unemployment benefit.

The rent is 600 PCM with 48 pounds being taken out by the agency.
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

Take a look under the heading "You have income from savings, investment or property" here.

If your income in the current tax year is more than the personal allowance which is £9,440 for an under 65 year old, you will need to complete a tax return to disclose the rental income and expenses and pay any tax due.

If you have been letting the property since before the start of the 2013/14 tax year, then you might consider taking advantage of the HMRC Let Property Campaign which you can read about here.

I hope this helps but let me know if you have any further questions.
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