Are you a Buy-to-Let landlord putting off your Self Assessment Tax Return? Let us direct you towards some invaluable sources of help and information that will make the process swift and simple.
Every year we promise ourselves we won't leave it so late next time, then next year comes around and it's January before the Tax Returns are looked at. The deadline of 31st January is fast approaching, so we thought we'd highlight some great HMRC resources for landlords that will help you as you tackle this annual chore.
Interactive guide
The HMRC has created an interactive online guide that gives landlords guidance on different types of property income, HMRC requirements, calculating profit and loss and much more. There is also lots of help and information on the gov.uk site specifically for anyone letting out a property.
Webinar videos
The HMRC has also created a series of instructive webinars, available on its YouTube channel. The four videos take landlords through all the essential information on income from property. Part 1 of the series covers receipts:
Interactive webinars
There are also interactive versions of the webinars, allowing landlords to register and watch a scheduled presentation. This includes the chance to ask questions via the on-screen text box.
How we can help
Our landlords enjoy simpler tax calculations thanks to our online portal My Foxtons. This allows landlords to retrieve their full income statement for all their properties with just one click, and this can be sent straight to your accountant or used for your own Self Assessment.
Read more about downloading property tax statements through My Foxtons here.
My Foxtons also allows landlords to send and receive funds, sign documents, receive feedback from viewings, track issues with let properties and more. Our landlords with managed properties also benefit from proactive credit control services and arranged payments of any outgoings, helping with staying in control of finances throughout the year.
Here's another blog you might be interested if you have more questions like, "if I rent my house out do I pay tax?" If you are interested in becoming a landlord, use our free online yield calculator to work out your annual rental income.
