UK Income Tax Declaration

1

Hi

In the UK do you have to declare your total earnings or the money you have made less all your expenses?

And is it from 1/4/15 to 31/3/16 for this year?

Thanks

2

You will need to do a tax return providing you have made over £2.5k after expenses - this is done a year behind. So you will complete before Christmas for the tax year just finishing now.

You will declare just your profit after allowable expenses. For example you can deduct mortgage interest payments but not the repayment part.

This is a useful website for more information.

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

3

Hi

I am no where £2500 this year but thank you.