Property to rent

mc25

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

T.C.

No problem at all. Just a self-assessment tax return with employment pages and land and property pages.

mc25

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

Monsoon

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

mc25

thanks

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

Thanks

Monsoon

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.

mc25

thanks

:thumbup: thanks