Tax on renting house?

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Tax return?

i am a PAYE employee. i live in UK
i want to know when am i required to fill the tax return for the income i am getting from renting out my house. i started renting house from may2007
and how will i get the tax return form

Answer 1

You first started receiving untaxed income in May 2007 which is in the 2007/08 tax year. You must notify your tax office by 5th October 2008 at the absolute latest. They will issue you with a tax return and you will have to complete and file this by 31st January 2009.

The above are your obligations in law but it would make sense to tell them earlier so that you get a tax return issued in April next year.

Contact the tax office shown on your latest notice of coding.

The tax on the income for the period up to 5th April 2008 will be due to be paid by 31st January 2009. You may also have to pay some money on account of 2007/08 at that time but this depends on the level of your rents and other income.