Tax Deadline Looms
Time is running out for landlords who need to get their Self Assessment Form back. Failure to get it back by the 31st January deadline will result in an automatic £100 fine.
Get tax guides prepared by experts
To submit their tax return a landlord firstly needs to register with HMRC. Then they can enter and submit all their tax details including paying their tax bill online. The ‘nitty gritty’ where a landlord is concerned is the Land and Property section. Use Property Hawks uprated tax system to calculate your rental profits or losses and then simply add these details into you tax return.
The essential thing to remember in calculating your rental profits are to include all: your expenses, mortgage interest payments and rent.
Before you submit your return ensure that you check out our advice on ten ways to save tax on your rental portfolio.
Also remember to avoid the 10 most common tax return errors.
Get your tax form in now and don’t make it a taxing end to the year.
GOOD LUCK!
Property Hawk
If you need help with your tax return use our Property Hawk TAX SERVICE
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