Simple UK Property Tax Basics For Landlords

In this comprehensive guide, we delve deep into the intricate world of UK property tax, specifically tailored for landlords. Whether you're a seasoned property owner or just starting out, understanding the tax obligations is crucial. We'll walk you through key dates to remember, essential tax forms you need to fill out, and provide clarity on the tax implications of being a landlord in the UK.
📅 Key Dates:
April 5th: End of the UK tax year.
January 31st: Deadline for filing self-assessment tax returns.
July 31st: Deadline for the first payment on account.
October 31st: Deadline for filing paper self-assessment tax returns.
📝 Tax Forms:
Self-Assessment Tax Return (SA100): This form is used by individuals to report their income and capital gains to HM Revenue & Customs (HMRC).
Form NRLY: Non-Resident Landlord Scheme - essential for landlords living outside the UK who receive rental income.
Two Examples:
Let's say you're a landlord earning rental income from your UK property. You'll need to fill out the SA100 form to report this income to HMRC.
If you're a non-resident landlord, residing outside the UK but earning rental income from properties within the country, Form NRLY is crucial for your tax obligations.
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[@martynbeaumont1100]

It's totally insane that landlords are taxed on turnover not profit. It's has hugely contributed to the lack of rental stock and made many families homeless. I can't believe it wasn't overturned in the High court. Mad times we live in.

[@UK-Property-Tax-Accountants]

Can’t agree anymore Marty 🙏

[@andrewskaife8447]

Thanks for your videos, very interesting. Little tweak, additional rate now starts at £125,140, rather than £150,000

[@UK-Property-Tax-Accountants]

Great spot. I created the video back in March with the old rates. I have removed that section now to prevent confusion. Thank you 🙏

[@andrewskaife8447]

@@UK-Property-Tax-Accountants its happened to me before too, when I didn't update the slide deck 🤣

[@UK-Property-Tax-Accountants]

Whats the URL of your channel?

[@andrewskaife8447]

@@UK-Property-Tax-Accountants haven’t branched out into KZbin yet, I’m employed as a Financial Educator and go into companies to help out their employees with all things money 😊 presentations, one to ones etc

[@UK-Property-Tax-Accountants]

Fancy doing a webinar with me?

[@morterd]

Is this correct when calculating corporate tax as this illustrates 20% of profit and I thought it was 20% of mortgage interest?

[@UK-Property-Tax-Accountants]

Can you tell me the time of the video you are referring to. I can’t see a 20% corporate tax rate