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Related UK Tax Questions
I currently rent out my house. The amount of rent I receive
I currently rent out my house. The amount of rent I receive is the same as I pay for the repayment mortgage on the property. Having owned the property for only a few years the interest makes up the bu… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi there, My wife and I own to Buy-To-Let properties, both
Hi there, My wife and I own to Buy-To-Let properties, both of which are mortgaged on an interest-only basis. Unfortunately, the Rental income, not-to-mention the ground rent, insurance and maintenance… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
hi i have less than £2500 of rental income per annum and have
hi i have less than £2500 of rental income per annum and have had done so for the last 3 years. I have not informed the hmrc as i did not think i needed (as low profit) to but it appears i do. please … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am renting out my house for 1395pm and renting another one
I am renting out my house for 1395pm and renting another one for £1200pm. I pay £850pm mortgage on my house (£1994 pa interest) and also have other costs such as buildings/landlords contents insurance… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Im self employed and Ive always calculated my income and
I'm self employed and I've always calculated my income and expenses for the 30th April, a year AGO from the current year. ie the current tax year is 5th April 2010 to 5th April 2011, but income/expens… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
Hello I would appreciate a little help regarding my tax.
Hello I would appreciate a little help regarding my tax. Basically I am in full employment as a mechanic with tax code 747L and pay the basic 20% tax through PAYE, I am looking to do jobs on the side.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi. My wife and I jointly own one buy to let property which
Hi. My wife and I jointly own one buy to let property which we rent out and have a mortgage on it. I am a higher rate tax payer , my wife isn't. Can we share or split the tax liability in any way ? Wo… read more
Sam
Sam
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Higher Officer HMRC
6,700 satisfied customers
Hi Im an Australian accountant whose trying to help my
Hi I'm an Australian accountant whose trying to help my client in regards XXXXX XXXXX their UK tax return. They lived in UK for 2year 7mths and left UK on 04 Sep 2009. They have rented out their appar… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Hi-i am renting out my house,and my rental income does not
Hi-i am renting out my house,and my rental income does not cover my mortgage. Do i have to pay tax,as i have tried to use the calculator on the tax return form,and ,according to that,i will owe 800 po… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi, I have an annual income of 6713.97 from employment and
Hi, I have an annual income of £6713.97 from employment and since December 2009 monthly income of £650 from rent, for the tax year 2009/10 the profit from the rental income is less £ 2500, as of the n… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
hi there, last year i paid a tax bill of 3,300. on top of
hi there, last year i paid a tax bill of £3,300. on top of this was payements on account for the same amount, which i later reduced, meaning i did not have to pay. this year, my net profit is £15,000 … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
I reach the age of 65 on the 08/07/2010 does this mean I have
I reach the age of 65 on the 08/07/2010 does this mean I have to contact you to change my PAYE tax code or is this changed the following year?… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Dear tax expert! I have a quick Q about income tax. I rented
Dear tax expert! I have a quick Q about income tax. I rented out my flat on 01/02/08 because I was off travelling for 6 months. On my return, I moved in with my boyfriend and my flat is still being le… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Hi SamTax I bought an apartment nearly 1 1/2 years ago but
Hi SamTax I bought an apartment nearly 1 1/2 years ago but the rental yield was not enough to take care of the mortgage so I ended up paying some of the mortgage myself. Now the mortgage rates have ch… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Im in full-time employment on 38,000 and have been asked
I'm in full-time employment on £38,000 and have been asked to do a private job for a friend which will earn me £3500 which they will pay in installments for the job over coming months. 1) Can you tell… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Hi, I am considering buying a second home to use partly
Hi, I am considering buying a second home to use partly as a holiday place for myself, family and friends but also to rent out to 3rd parties for holidays during the year. To buy the property i am goi… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Ive recently discovered that despite not making any income
I've recently discovered that despite not making any income on my buy to let flat (interest payments were more than the rent recieved each month) I should have filed a tax return in 2007 and 2008 ( th… read more
marimonay
marimonay
Accountant
Master's Degree
14 satisfied customers
My wife and I rented out our flat last financial year (08/09)
My wife and I rented out our flat last financial year (08/09) but the rental income didn't cover the interest payments of our repayment mortgage. What tax assesment form do we or I need to fill in (re… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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