Self Assessment

[stephenp]

Hi,
i am self employed and now have rental income to add to this. do i have to fill in seperate forms for the two incomes or can i lump it together on the same self assessment.
Thanks
Steve

[Chartered Tax Adviser]

You will need separate pages - "Self employment" (SA103) and "income from property" (SA105).

These can be downloaded from the HMRC website, or I can e-mail them to you. Let me know.

Care needed if you are VAT registered and operating the flat rate scheme. Ask me for more details if this is the case.

[Tax Accountant]

Hi,
i am self employed and now have rental income to add to this. do i have to fill in seperate forms for the two incomes or can i lump it together on the same self assessment.
Thanks
Steve

All income and gains always go on the same self-assessment tax return. You just need to obtain and attach additional relevant pages to the hard-core basic tax return.

Apart from downloading the additional pages and relevant notes, you could also telephone the HMR&C Orderline and these will be sent to you.

If you are registered for VAT, did you know that you may be able to reclaim any VAT charged on your letting expenses as VAT input tax by simply adding it to your self-employment VAT Input figures?

Ramnik