Uncategorized

Simple Guide to Tax

RLA
Written by RLA

The Summer Budget 2015 has raised many questions for landlords after plans to restrict mortgage interest tax relief to the basic rate. The RLA’s tax specialist partner, RITA, has created a simple guide for landlords to help them to understand tax and their rental income…

The Summer Budget 2015 has raised many questions for landlords after plans to restrict mortgage interest tax relief to the basic rate. The RLA’s tax specialist partner, RITA, has created a simple guide for landlords to help them to understand tax and their rental income.

The RLA and RITA’s ‘A Simple Guide to Tax’ answers the simple question ‘Where do I start with my taxes?’

As has been shown by HM Revenue and Customs’ (HMRC) ‘Let Property Campaign’,  a scheme targeting those not declaring rental profits, landlords do not understand their taxation obligations. It has previously been reported that 1 in 3 landlords did not declare their rental profits, highlighting the need for greater landlord education and awareness in the self assessment tax system.

With the changes within the budget and increasing scrutiny on landlords it is important now more than ever to make sure that you have your records in order.

Read and download the RLA & RITA4RENT’s Simple Guide to Tax, click here.

Rental Income Tax Advisors (RITA4RENT) did take on the budget for those interested.

About the author

RLA

RLA

The Residential Landlords Association (RLA) represents the interests of landlords in the private rented sector (PRS) across England and Wales. With over 23,000 subscribing members, and an additional 16,000 registered guests who engage regularly with the association, we are the leading voice of private landlords. Combined, they manage almost half a million properties.

Add Comment

  • Some of us are not seeing this as a fait accompli and are trying to fight it all the way. If we don’t get it overturned before the Finance Bill is heard in November, we need to mount a legal challenge to the biggest attack on landlords in history.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.