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Are you renting out your house?



If you have a house that you are renting out then you need to let the taxman know - even if you are in the military and living in military accommodation (SFA).

A lot of people are blissfully unaware that they need to declare rental income to HMRC, and for military personnel there are a few other things you need to do too (see related posts for more info).

Failure to declare this income could have an effect on future mortgage lending, with big names such as HSBC requesting proof of property income be declared at the application stage.

If you have a property that you rent out and haven't declared this yet, it's not too late! You have until January 31st to submit your self assessment for the year ending March 2018.

If the rental income during 2017-2018 was less than £1000, then there's no need to worry as you don't have to report anything (and by income I mean the rent received before any expenses were taken off). Please get in touch if you need a hand with this or if you have any queries about it.

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