Self assessment - Landlord (1 property + other income)

If you’re renting out your UK property as a landlord, you need to let the relevant authorities know about the rent income you’re raking in along with how much you’ve spent on the property to earn that income. No bookkeeping required.

This is to be done each year by completing an HMRC self assessment tax return, which needs to be submitted no later than January 31 after the tax year ends.

When filing your landlord tax return, you can claim a number of expenses such as legal fees, estate agent fees, advertising, gardening and cleaning, mortgage interest, etc.

These expenses can help cut down profit you’ve acquired through rental properties.