Self-assessment tax deadline nearing for landlords
Published: 17-Jan-2008
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Buy-to-let landlords are among those who need to be aware of the fast-approaching deadline for self-assessment tax returns, a government spokesman has warned.
Paperwork for income that is not taxed at source, such as rent, must be returned to HM Revenues and Customs (HMRC) by January 31st, the spokesman explained.
He also highlighted the importance of a landlord declaring any new source of untaxed income, such as residential lettings, to the HMRC, as soon as possible.
"The January 31st date applies to people who are already in the system, which will be mainly [those] who received a source of income where tax is not deducted at source…so that's the self employed, landlords, company directors, and people with generally more complicated tax affairs," he said.
"If they've got a new source of income that they've not told us about then the January 31st date [may not] apply to them, because they'll have to go through the process of registering with us," he added.
According to government figures, as many as one in ten people failed last year to send in their self-assessment tax returns before the HMRC deadline.
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