Tag: property income
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My Rent Only Covered the Mortgage — Did I Still Need to Tell HMRC?
If your rental income simply covered the mortgage, you might assume there was no profit and nothing to report. But mortgage payments and taxable rental profit are not calculated in the same way.
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Making Tax Digital for Landlords: Who Actually Needs to Comply — and Who Doesn’t (Yet)
Making Tax Digital causes confusion for Landlords, especially those employed under PAYE. This guide explains who is in scope, what income counts, and who does not need to comply yet.
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Why You Shouldn’t Make Assumptions With HMRC
Think HMRC won’t notice a bit of rental income? Think again. This real-life case shows how one small assumption led to thousands in penalties — and how to stay compliant.