Only Property Income, do I apply for UTR number?

Guest007 Registered Posts: 54 💫 🐯 💫

A new client who just bought a buy-to-let house. Expected net profit from the property would be about 10k. She has no other income other than this rental income.

Do I need to apply for UTR number? Anything else I am missing here?



  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    They have taxable income that falls within self assessment so they need to register.
    If you don't already complete a tax return, you'll need to do so if you receive any of the following:

    £10,000 or more income from property (before deducting allowable expenses)
  • JodieR
    JodieR Registered Posts: 1,002
    Yeah, if the gross income and net income from property are both under the limits then you do not need to register for a UTR, but you do still need to pay tax on any profits so you just write to HMRC with the details (although how you pay the tax due without a UTR I don't know!)
  • Guest007
    Guest007 Registered Posts: 54 💫 🐯 💫
    Although how you pay the tax due without a UTR I don't know!

    Thank you both monsoon and JodieR,

    Anymore clarifications about JodieR's Last sentence please?

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