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Property to rent

mc25mc25 Well-KnownRegistered Posts: 232
Hi,

If dealing with client with a property to rent and is full time employed too, are there complications in completing their accounts, sorry haven't got much experience in this area and I was wondering if there is anything i need to watch out for.

Any advices will be appreciated.

Thanks

Comments

  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    No problem at all. Just a self-assessment tax return with employment pages and land and property pages.
  • mc25mc25 Well-Known Registered Posts: 232
    Wow that was a quick reply T.C. I dont suppose you have got a link with the land and property pages so that i can read through them

    Thanks
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    mc25 wrote: »
    Wow that was a quick reply T.C. I dont suppose you have got a link with the land and property pages so that i can read through them

    Thanks

    If you're an agent in practice, you should get the full guidebook once a year. Have a chat to the HMRC orderline.

    The forms are here
    http://www.hmrc.gov.uk/forms/sa105.pdf
    I can only find the 2007-08 notes
    http://www.hmrc.gov.uk/worksheets/sa105notes.pdf
  • mc25mc25 Well-Known Registered Posts: 232
    thanks

    Thanks for your reply, the other question is does the client have to register as self employed too?

    Thanks
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Nope, they aren't self employed, they have Land & Property pages, it's different.

    They still have to notify HMRC if they don't already receive a tax return that they have an additional form of taxable income.
  • mc25mc25 Well-Known Registered Posts: 232
    thanks

    :thumbup: thanks
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