Tax returns when renting a property

kuratowski

It is clear from the OP that they have only just reached state pension age.

Dazed_and_C0nfused

And that they have no tax liability in which case they have no obligation to report anything to HMRC.

[Deleted User]

Dazed_and_C0nfused said:

And that they have no tax liability in which case they have no obligation to report anything to HMRC.

Why do you posting this when HMRC is clear that income from rental property if it is more than £2500 after allowable expenses or more than £10000 without expenses a tax return must be filed. Were the rules different in the past 8 tax years and he OP has missed? 

Dazed_and_C0nfused

Lover_of_Lycra said:

Dazed_and_C0nfused said:

And that they have no tax liability in which case they have no obligation to report anything to HMRC.

Why do you posting this when HMRC is clear that income from rental property if it is more than £2500 after allowable expenses or more than £10000 without expenses a tax return must be filed. Were the rules different in the past 8 tax years and he OP has missed? 

gov.uk is notorious for being dumbed down.

Legislation is what matters.

Taxpayers who do not receive a tax return are required to notify chargeability to income tax or capital gains tax
HMRC is not always able to identify who needs a tax return so there is a requirement to notify chargeability. Any person who has not been required to complete a tax return, but who nonetheless has profits or chargeable gains on which tax is due must notify an officer of the Board that they are chargeable to tax.

https://www.gov.uk/hmrc-internal-manuals/self-assessment-legal-framework/salf210#:~:text=HMRC is not always able,they are chargeable to tax.

SameOldRoundabout

Lover_of_Lycra said:

Dazed_and_C0nfused said:

And that they have no tax liability in which case they have no obligation to report anything to HMRC.

Why do you posting this when HMRC is clear that income from rental property if it is more than £2500 after allowable expenses or more than £10000 without expenses a tax return must be filed. Were the rules different in the past 8 tax years and he OP has missed? 

LOL is absolutely correct. SA return should have been filed regardless of tax liability in this case. OP, start filing now for the 20/21 year. 

Dave_Donaldson

Thanks for all of the comments, time to see how reasonable the HMRC are!!

Dazed_and_C0nfused

Dave_Donaldson said:

Thanks for all of the comments, time to see how reasonable the HMRC are!!

Sadly you are about to open a can of worms you will no doubt wish you had left well alone.

You may want to read this.  Carefully.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/877263/CC-FS11.pdf&ved=2ahUKEwi7-fGI08zwAhWC8OAKHQsvBtYQFjAKegQIJBAC&usg=AOvVaw2RDPwT7P4gM-cTHOsxfZv2

Grumpy_chap

I may have missed something here, but the OP had sufficient funds 10 year ago to buy a house for his daughter to live in.  That suggests the OP was in a "comfortable" financial position and presumably lived a pleasant lifestyle.  Yet, in that 10 years, the OP has only received £5k/year income, so well below personal allowance, and the OP has not claimed any state benefits. 

Are the HMRC likely to ask how the OP met their own living costs in that time?

Dazed_and_C0nfused

Grumpy_chap said:

I may have missed something here, but the OP had sufficient funds 10 year ago to buy a house for his daughter to live in.  That suggests the OP was in a "comfortable" financial position and presumably lived a pleasant lifestyle.  Yet, in that 10 years, the OP has only received £5k/year income, so well below personal allowance, and the OP has not claimed any state benefits. 

Are the HMRC likely to ask how the OP met their own living costs in that time?

No idea to be honest but the plot thickens.

In 2016 the op posted this,, which puts a completely different light on their claim to not owe any tax for the past 20 years.  More to this than the original post suggested.

One of my very elderly relatives wants to gift me £5,000 which is very nice, but I'm unsure of the tax situation if he does so.
The £5,000 was originally in his will, but he wants me to have it early, so I can share it amongst my children/grandchildren and he can then see the good that the money can do.
My uncle is in receipt of state benefits with an estate worth no more than £15,000, and I'm a basic tax payer.