This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

BTL & Self-assessment

GILLHOUS
Posts:2
Joined:Fri Mar 22, 2019 1:49 pm
BTL & Self-assessment

Postby GILLHOUS » Fri Mar 22, 2019 2:34 pm

Hi

I'm a 40% tax payer(PAYE) and own a couple of BTL properties which my husband managers. In practice we jointly own the properties, but his name is not on the mortgages because he is not currently employed - looking after the properties is his only job. I currently pay tax on the income from these properties via self-assessment. If my husband were to register with HMRC as a sole trader, with property management as his business - I am assuming this would release me from having to submit self-assessments in the future. Is that right?

D&C
Posts:61
Joined:Thu Dec 22, 2016 10:04 pm

Re: BTL & Self-assessment

Postby D&C » Sat Mar 23, 2019 7:09 pm

If my husband were to register with HMRC as a sole trader, with property management as his business - I am assuming this would release me from having to submit self-assessments in the future. Is that right?
What so no one needs to declare the rental income?

You might think about getting professional (paid for) advice before you do anything else.

GILLHOUS
Posts:2
Joined:Fri Mar 22, 2019 1:49 pm

Re: BTL & Self-assessment

Postby GILLHOUS » Wed Mar 27, 2019 9:44 pm

No, I've not been clear - the point is that he'd declare all of the property income. But yes, I do need to seek professional advice


Return to “Income Tax”