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Are rental payments classed as self employed income?
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Posts: 3 Newbie
Hi I’m self employed. A counsellor. I also own a buy to let. Is the rental I receive classed as a landlord classed as s/e income? My work income is slowing due to Corona virus and it’s not as much as my rental income this year so wondering if I’ll fall through the cracks where potential help from Hmrc is concerned? Thanks in anticipation!
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Rental income is not self employed trading income:
https://www.gov.uk/guidance/how-hmrc-works-out-total-income-and-trading-profits-for-the-self-employment-income-support-scheme
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Rental income is classed as Income from Land and Property. It is not self employed income.0
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My understanding is you only get a grant for SE earnings if your SE is more than 50% of your total earnings.In the last tax year, 2019/20 my rental income slightly exceeded my SE income. But averaged over the last 3 years, my SE earnings was over 50% of my total. So I am nervously waiting hoping to find that I qualify.I wonder if there is any appeal procedure if they deem you do not qualify?0
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ProDave said:My understanding is you only get a grant for SE earnings if your SE is more than 50% of your total earnings.In the last tax year, 2019/20 my rental income slightly exceeded my SE income. But averaged over the last 3 years, my SE earnings was over 50% of my total. So I am nervously waiting hoping to find that I qualify.
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0 -
Hi i started a holiday let three years ago and gradually built it up. I gave up my part time employed job last year to concentrate on it .
its always been on my tax return as taxable income. However now cottages.com have let me know majority of my bookings have cancelled . so I only have £800 per month income from a rental property. I am struggling big time and worried to death. I have paid council tax on the holiday let the last 3 years amounting to 6K. so not rated for business rates.
I seem to be unable to claim anything...... Any advice greatfully received. Been told from HMRC I dont qualify as not self employed.
Thanks0
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