Landlord for first SA tax return

Bob~24601

Hi,

I am newish landlord, and need to complete my tax return by the end of Jan.

I don't think there be a problem with this, as I know what I need to pay tax on (pretty good at keeping track of expenses).

But wondered, is it just 20% tax that I pay? Or do I need to pay National Insurance on top?

Its just I got a letter today, saying that I now have to pay National Insurance for self employed.

I already pay National insurance via my normal paid job.

Thanks

Bob :eek:

00ec25

if you have a PAYE job and the only other source of income is from property letting then no you do not have a self employed business on top of your PAYE, so a letter about NI is wrong

who sent the letter?. what does it say?
NI is never payable on letting income, so what else are you not telling us about your circumstances?

pip895

Dot panic - No NI payable on rental income.

Bob~24601

Hi

thanks for both of your replies.

I wasn't 100% sure if NI was payable, but at least I have confirmation before I ring them to dispute it.

I do have a full time job, and PAYE my NI & Tax. I do not have any other job (cash in hand) only my rental property, which I want to pay what I owe in Tax.

Looking back at my records, I seem to have two different registration numbers, I think I had a problem with my first one, so I think I set up another ages ago.

I am wondering if I may have selected the incorrect option when setting it up, and thats why they are sending a NI bill to me?

The letter is from HM Revenue & Customs for Self employed class 2 National insurace contributions (NICs) due.

"Payment due £168.25 - This is due no later than 31 January 2014. Tell us if you're no longer self employed as you may not owe this. If you pay late or do not pay you may lose your right to state pension and benefits. If you fail to pay a private debt collection agency may contact you, or we may colect what you owe through your tax code.

Summary of our outstanding liability period:

22-07-2012 to 06-10-2012 £29.15
07-10-2013 to 06-04-2013 £68.90
07-04-2013 to 05-10-2013 £70.20

Total due £168.25"


Ill give them a call tomorrow, hopefully just a mix up of selecting the wrong option.

Thanks

Bob