HELP - Self Cert Tax ??? Deadline ??

stylus360

Hi

I have 2 properties that i currently let, the first started giving me an income in Oct 2010 and the other Feb 2011.

I have applied for my UTR no through HMRC.

When will i need to go and see an accountant ?

Have read up on dates but find it confusing.......

Cheers

ceh209

Tax year runs 6 April - 5 April so from what you say your property income started in the tax year 2010/11.

The deadline for self-assessment tax returns for 2010/11 is 31 January 2012 if you are filing online (31 October 2011 if on paper)

You don't have to see an accountant, but it might be advisable, at least in your first year. Good time would have been 6 months ago!

John_Pierpoint

Are the properties let furnished?

stylus360

Yes, they are.

John_Pierpoint

You have a choice about your maintenance costs:
You can keep a meticulous record of every fiddly little repair or you can claim 10% of the rent as covering these expenses.