RENTAL INCOME ON A UK HOUSE

Discussion in 'Finance, Property, Law' started by fangy1, Feb 25, 2008.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:

  1. I am in BFG and we are approaching the end of the tax year.

    I have our house in Winchester rented out for £1200 pcm so I was aiming off for paying a huge wad in tax (less deductable allowances) at the end of the financial year.

    However, people I’ve spoken to in similar circumstances say that they haven’t had a tax return in previous years and so haven’t had to pay anything yet. I’m sure I am due to pay something on this rental income but it certainly seems unclear reading this site.

    Do we not receive a tax return automatically or are we supposed to apply for them ? I’m tempted to keep what I think I owe on deposit until HMRC contact me & I pay them (hopefully they never will suss it)

    Your thoughts/experiences welcomed.