Rental Market Tax

shaz77_2

Hi All,

I have a property rented out since February 2009 and it needs the income tax paid on it.

I have applied to HMRC for a Unique Taxpayer Reference (UTR) about three weeks ago but it could take another 3 week to arrive. What happens if I do not make the deadline even though when all calculations are done I don't think I have any tax to pay?

chrismac1

If there is no tax to pay, there is no fine for a late submission either.

shaz77_2

chrismac1 wrote: »

If there is no tax to pay, there is no fine for a late submission either.

That's a relief - I suspect it will be fairly tight - what dates will I be eligible for paying tax e.g. is it February to December?

CLAPTON

if you first first rented it out in feb 2009 then
-you should have paid tax for the period feb -end march 2009 by 31 jan 2010 so you are a year late
-and need to pay tax for the period April 2009 to march 2010 by 31 jan 2011

shaz77_2

CLAPTON wrote: »

if you first first rented it out in feb 2009 then
-you should have paid tax for the period feb -end march 2009 by 31 jan 2010 so you are a year late
-and need to pay tax for the period April 2009 to march 2010 by 31 jan 2011

The house was first rented in February 2010.

CLAPTON

shaz77 wrote: »

Hi All,

I have a property rented out since February 2009 and it needs the income tax paid on it.

I have applied to HMRC for a Unique Taxpayer Reference (UTR) about three weeks ago but it could take another 3 week to arrive. What happens if I do not make the deadline even though when all calculations are done I don't think I have any tax to pay?

Ok.................................

shaz77_2

CLAPTON wrote: »

Ok.................................

Sorry it was a typo, we all make them.