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UK Property Tax Q&AShould I Treat My Property Income as Seperate Self Employed Income or Exisiting Income for Tax Purposes?
Should I Treat My Property Income as Seperate Self Employed Income or Exisiting Income for Tax Purposes?
Question
Generally, all property income and expenses from all let properties owned by the taxpayer are amalgamated, to give one figure for gross rental income, one figure for repairs etc. and one figure for net rental income. These final amalgamated figures are entered onto the UK property pages of the self assessment tax return.
I currently complete my tax returns and then complete the property section to include income from 1 x property. However, I have since purchased another 2 properties - should I treat them as a seperate self employed income or add them to exisiting income for tax purposes.
Generally, all property income and expenses from all let properties owned by the taxpayer are amalgamated, to give one figure for gross rental income, one figure for repairs etc. and one figure for net rental income. These final amalgamated figures are entered onto the UK property pages of the self assessment tax return.
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