Property and Rental Income

If you're renting out property in the UK, you may need to tell HMRC about the income—even if you don't owe any tax on it. Whether you're letting a spare room, your entire home, or an investment property, the rules depend on how much you earn and what you're renting out. This article explains when...

4 min read

If you're a landlord or rent out property, you'll need to report this income on your Self Assessment tax return if you earn more than £1,000 from rental activities. This article explains how to complete the property pages of your return, what income to declare, which expenses you can claim, and how...

5 min read

If you're a landlord who hasn't declared all your rental income to HMRC, the Let Property Campaign offers a way to put things right voluntarily before HMRC investigates. This disclosure opportunity is designed specifically for residential landlords with unpaid tax, and it can result in more...

5 min read

If you earn small amounts from renting out property or doing self-employed work, you may be able to use tax-free allowances that simplify your tax affairs. From 6 April 2017, HMRC has provided £1,000 allowances for both property and trading income, which can reduce or eliminate the tax you owe and...

4 min read

If you let out furnished accommodation in your home, you may be able to earn up to £7,500 a year completely tax-free under the Rent a Room scheme. This relief applies whether you're an owner-occupier or a tenant, and it can significantly reduce or eliminate your tax bill on rental income from...

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Furnished holiday lets (FHLs) receive special tax treatment that's more favourable than standard property lettings. If your property qualifies, you can claim business reliefs that aren't available to ordinary landlords, including capital allowances on furniture and equipment. However, your property...

5 min read