Income -Tax

The most crucial tax to consider for any property investor is the income tax. It is charged on employment income, rental income, interest, dividends, and profits for the self-employed. Income tax is the largest source of tax revenue for the UK government, accounting for more than 30% of total tax revenue.

The tax rules are continuously changing, and it is difficult for landlords to find the plain English guide to income tax. Therefore, in this article, the main elements of income tax for landlords are explained in a simple, explanatory manner.

This article will look into the income tax rates, self-assessment filing deadline and penalty, worked examples, particular issues around the taxation of property income, etc.

If a UK resident person gets rental income (either from UK Property or Overseas property) or capital gains from selling the properties, the landlord needs to prepare and file a Personal Tax return with HMRC, ...

UK Property Accountants provide specialist service of income tax planning for landlords. Our income tax planning includes the following: Pension contribution planning,Section 24 interest restriction planning,SEIS/EIS Relief planning, Capital gains planning, Income sharing planning. ...

Suppose you are a non-resident landlord owning a property in the UK. In that case, the rental income from your UK property will be taxable in the UK, subject to the availability of personal allowance ...