How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
Type Your Tax Question Here...
TonyTax is online now

I have a second property which is out for rent at the moment

This answer was rated:

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.

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.
TonyTax and other Tax Specialists are ready to help you