Landlord Accounting - Tax implications


If you are an individual and own property in the UK that you have rented out, you are liable to file self-assessment tax return of yourself.

You have to register yourself for self-assessment at any time during or after the period in which you earn property income. The income tax for Landlord is same as for other self-employer or sole trader businesses i.e. 6th April to 5th April. This is the period for which you have to disclose your property income to HMRC through self-assessment return.

You have to submit an application for registering for HMRC taxes (self-assessment) and upon acceptance of the application HMRC will allocate you a unique tax reference (UTR) number. This number remains same throughout your life and will even be same if later you start self-employment. On the other hand if you are a self-employed already you have to tell HMRC about your property income through your self-assessment return, while you will use the same UTR number that you have been given for your self-employment.

You will be allowed to deduct related expenses from your income, and pay tax on the net income derived after deducting the expenses, if you are not working as self-employed you will not need to pay any national insurance contribution on your net income. Normal income tax rates and rules will apply to the income you earned during a tax year; please follow the link to tax rates.

We only charge a fix fee based on the number of properties you receive rent from, and our fee will include;

  •      Registering for self-assessment
  •      Income from property
  •      Income from employment
  •      Interest income, dividend income, pensions & benefits
  •      File your self-assessment tax return
  •      Provide you a list of allowable expenses
  •      Act as an agent on your behalf
  •      Email and telephone support throughout the year
  •      BNW- Bookkeeping software and property rental sheet
  •      Tax planning

Simple get in touch with us through quick contact and we will get back to you or give us a ring on 0208 648 0800.


I am writing this with great pleasure, I came to UK on Tier-1 Entrepreneur Visa and had funds to invest in the country. BNW Accountants Ltd provided me business consultancy for a safe investment of...

Jawad Ali
Feb 20, 2017

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