Hi
I’m getting a bit confused over tax years for rental payments.
Sorry if this is an obvious thing, but I just don’t want to make to many mistakes.
In 2016 I took over an existing tenant in a flat, I bought in august 2016.
Come March 2017, time for tenancy renewal, I was paid rental income twice in that month
for March and April, money was paid into my bank on 30 of March.
Does that double payment go on 2016-2017 tax year or one payment go on to the next tax year
2017-2018 ?
Also a second property I have, was rented out on the 5 August 2017 for the first time.
Come the 5 April 2018, what tax year would that payment for April go on, I won’t get the money until say around the 10 of April. ?
Should I just count it as payments April through March 2017-2018 regardless of what, and when payment went into my bank account. ?
I’m also a non resident landlord outside the uk, and this is my only income, I’m not a LTD company
also these are non commercial lettings.
Thank for any help
Royboy1.
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