Do I need to fill in Property return as well as normal retur

Do I need to fill in Property return as well as normal retur

Postby AJ66 on Wed Nov 02, 2011 12:30 pm

Our business is property rental. We own the properties and manage and maintain them.

Do I need to fill in the property return SA105, or can I just fill out my normal return SA100?

Thank you
AJ66
 
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Joined: Wed Nov 02, 2011 12:27 pm

Re: Do I need to fill in Property return as well as normal retur

Postby maths on Wed Nov 02, 2011 1:39 pm

Both.
maths
 
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Re: Do I need to fill in Property return as well as normal retur

Postby AJ66 on Wed Nov 02, 2011 2:17 pm

Thank you.

Do we fill in profit and expenses in both the self employment section and the property section as it seems to completely change the tax when its completed online. It seems to add them both together.
AJ66
 
Posts: 6
Joined: Wed Nov 02, 2011 12:27 pm

Re: Do I need to fill in Property return as well as normal retur

Postby maths on Wed Nov 02, 2011 3:01 pm

Typically managing and letting out properties is not a self employed business; thus complete Property Supplementary Pages only.

Below is extract from Property Supplementary Pages Notes:

Complete the UK property pages if, in the year to 5 April 2011, you received:
• rental income and other receipts from UK land and/or property • income from letting furnished holiday accommodation in the UK or
European Economic Area (EEA) • premiums arising from leases of UK land • an inducement to take an interest in any property for letting (a reverse premium).

But use the Self-employment pages for any income from:
• canals, inland navigations and docks • mines and quarries, including sandpits, gravel pits and brickfields • rights of markets and fairs, tolls, bridges and ferries • farming, market gardening or other commercial occupation of land • hotels and guest houses • letting furnished accommodation in your home that amounts to a trade, for example, if you run a guest house or offer bed and breakfast, rather
than just taking in a lodger • way leaves if the land to which the way leave relates is used in your trade.
maths
 
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Joined: Wed Aug 06, 2008 3:25 pm

Re: Do I need to fill in Property return as well as normal retur

Postby AJ66 on Wed Nov 02, 2011 3:14 pm

Thats much clearer, thank you.
AJ66
 
Posts: 6
Joined: Wed Nov 02, 2011 12:27 pm


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