Self assessment and tenants on univ credit

flopsy1973

Doing my first self assessment this year and I have tenants in house I own they claim universal credit. Do I need to include this will the fact they are claiming UC means hmrc will check? 

tacpot12

You need to include all the rental income and allowable expenses in your tax return. HMRC are starting to have regular access to UK bank accounts and will be using the data to check whether people are declaring all their income.  

anselld

You need to declare your own income which would include any UC if it is paid directly to you.  How the tenants are funding their rent is not relevant to your self assessment.

poseidon1

flopsy1973 said:

Doing my first self assessment this year and I have tenants in house I own they claim universal credit. Do I need to include this will the fact they are claiming UC means hmrc will check? 

Just to be clear are these tenants living in a separate property from the one you live in  ie they are not living in your home with you? 

If so, you evidently have a lot to learn about the fiscal and legislative aspects of being a landlord and could benefit from self tutoring  from sources such as the following:

https://www.worldofbooks.com/en-gb/products/landlord-s-handbook-book-leon-hopkins-9780857190185?sku=GOR005037594&gad_source=1&gad_campaignid=17415896148&gbraid=0AAAAADZzAICkQIQlc-MeDdl9mz_J8eIbt&gclid=CjwKCAjwobnGBhBNEiwAu2mpFI2dsfIBBhWtyjIc_zfK91umllyR9cJeBlWjTsZeaGsZi4NlQWeUMRoCZh4QAvD_BwE

The complexities of the annual record keeping and profit and loss computations inherent in self assessing as a landlord are not inconsiderable. 

 In a previous post last year on what best to do with £400k cash, you indicated a preference to avoid investments which would place a self assessment burden on you which you wish to avoid.

 Yet we now learn you are already subject to the rigours of self assessment via an investment property you failed to mention in the investment post.

Your lack of knowledge in the prior investment post,  together with the current query suggests you might be best advised to delegate preparation of your first tax return to a tax accountant, and via their expertise gradually build up your own knowledge and experience before embarking on completing future tax returns by yourself. HMRC can sometimes be unforgiving of a tax payer submitting what they consider to be a negligently completed return.

As a general observation, consulting the various different MSE forums in the patchwork fashion you have chosen without presenting a coherent picture of your financial circumstances , may end up eliciting only partially correct responses to your potential detriment. Not everyone are inclined to review an OP's past posts to try and join up the dots.