I have a property which I rent to tenants for the past 15 years, but I am a pensioner do I still have to pay tax on the property?

Arthur Says

Yes you do have to pay tax on the rental income from the property.

If it is your own house, rent-a-room relief may be applicable.

If the income is small, taking into account all your other taxable income, it may be covered by your age-related personal allowance, and, if applicable, married couple's allowance. So, after doing your sums, you may find that the rental income does not cause you to pay any or much taxation.

About Arthur Weller

Over 350 consultations successfully completed by Arthur though this site!
Arthur Weller is a Chartered Tax Advisor (CTA) and an integral part of the Property Tax Portal team. He offers a special rate tax advisory service on any aspect of UK taxation, including property taxation, for as little as £97 for a 30 minute telephone tax consultation.

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- Over 90% of queries are answered within 30 minutes and within 3 days!
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“Arthur contacted me the next day.  He phoned promptly and offered me clear and concise advice which he referenced to the HMRC website, taking me through section by section and explaining the implications each step of the way.  He also sent me an MP3 recording of the session so that I was able to absorb the information more fully.  I am extremely impressed by his professionalism. Money very well invested as his advice will save me thousands of pounds.  I wholeheartedly recommend his services. Thank you very much.” V. Loughery