Taxation

You must inform HM Revenue that you are receiving rental income. If you don’t, you could potentially face a fine.

Tax is payable on the profit you make from renting out the property, after deductions for allowable expenses.

To maximize your income from your property it is important that you understand your tax obligations and allowable expenses. You should seek out the advice of experienced professionals, but in the meantime a brief overview can be found at:

https://www.gov.uk/renting-out-a-property/paying-tax

Your lettings contact

Ashley Clements
Lettings Manager
lettings@hortonandgarton.co.uk

020 8819 0511