Finance & Tax Helpful Tips

HMRC publishes updated guidance on tax for landlords

Tax Returns Deadline 2016
Victoria Barker
Written by Victoria Barker

HMRC has published updated guidance to assist landlords who want to find out about their tax and how to work out rental income if they rent out property.

The guidance, which can be accessed on the government’s website, runs through a wide range of useful information for landlords, including allowable expenses, joint ownership and record keeping.

In addition to this, HMRC has also published new guidance on its ‘Let Property Campaign‘, which enables landlords, based in the UK an overseas, to get up to date with their tax affairs in a simple way and take advantage of the best possible terms.

Rent-a-room scheme support

A self-assessment help sheet has also been published by HMRC on the Rent-a-Room scheme, which allows owner occupiers and tenants t receive tax-free rental income if they provide furnished accommodation in your only or main home.

The Rent-a-Room Scheme allows owner occupiers and tenants to receive tax-free rental income if you provide furnished accommodation in your only or main home.

Want to learn more about tax?
  • The RLA is hosting Future Renting North, a one day conference held at the Concorde Conference Centre in two weeks time. There will be a session at the conference about tax and finance. With landlords now seeing the effect of Mortgage Interest Relief in their tax returns, this is your chance to learn more about the recent changes to tax that affect you.
  • RLA members can access advice on tax by contacting the RLA’s tax centre, brought to you in partnership with Rita4Rent.
  • The RLA also run courses to help landlords learn more about tax. Check out our Inheritance Tax and Property talk, with dates in London and Bristol.


About the author

Victoria Barker

Victoria Barker

Victoria is the Communications Officer for the RLA.

She is responsible for producing articles for our Campaigns and News Centre, the weekly E-News newsletter and media review, and creating social media content. She also contributes to our members magazine, Residential Property Investor.

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