Pay Income Tax on rental income and National Insurance if applicable
Being a landlord comes with great rewards, but also tax responsibilities. Remember to pay income tax on your rental profits and National Insurance if your earnings qualify.
Here’s the lowdown:
✅ Pay income tax on your rental earnings to HM Revenue & Customs.
✅ If you’re self-employed, don’t forget about National Insurance contributions.
✅ Keep detailed records of your rental income and expenses for smooth tax filing.
✅ An expert letting agent can help reduce cost by future proofing your property using tried and tested method.
✅ Landlord should seek independent tax accountant.
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