Tax on rental property

Cliddy

Hope someone can help please.
My husband and I have a rental property. Ownership wise, we are shared owners.
I pay no tax to-date as I have no other taxable income. We intend to split the tax liability 50/50 (indeed I believe we've no choice). As the gross annual income on 50% rent is way below my personal tax allowance do I need to declare it?

I ask this specifically as to whether it is treated in the same way if for instance I was a hairdresser working from home and again earning less than my allowance would that be disclosable?

Apologies if that final example complecated matters !!!

uknick

https://www.gov.uk/renting-out-a-property/paying-tax

"Property you personally own
The first £1,000 of your income from property rental is tax-free. This is your ‘property allowance’.

Contact HMRC if your income from property rental is between £1,000 and £2,500 a year.

You must report it on a Self Assessment tax return if it’s:

£2,500 to £9,999 after allowable expenses
£10,000 or more before allowable expenses
If you do not usually send a tax return, you need to register by 5 October following the tax year you had rental income."

Pennywise

Cliddy wrote: »

I ask this specifically as to whether it is treated in the same way if for instance I was a hairdresser working from home and again earning less than my allowance would that be disclosable?

Yes, you would have to declare it on SA return if over the £1,000 exemption.