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

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  1. I have been trawling though ARSSE hoping to see an answer to this, no luck. 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.