chamberlayne
07-09-2010, 23:18 PM
I have read the rules on HMRC and various posts here, i am first time private landlord with 1 property, so let me ask:
If i advise HMRC that i am letting a property over tax year 2010/2011 and i expect an income less than a £2500 pa, they will send me a P810 at the end of the financial year.
I fill that in, will i then at some stage in the Tax Year 2011/2012 be asked to pay my tax liability or do i then get that years code adjusted? Or do i send in payment with the P810.
Obviously if i am over the £2500 then i have to send in the self assesment tax forms, again do i send some payment with or?
If i advise HMRC that i am letting a property over tax year 2010/2011 and i expect an income less than a £2500 pa, they will send me a P810 at the end of the financial year.
I fill that in, will i then at some stage in the Tax Year 2011/2012 be asked to pay my tax liability or do i then get that years code adjusted? Or do i send in payment with the P810.
Obviously if i am over the £2500 then i have to send in the self assesment tax forms, again do i send some payment with or?