You must register as a Landlord with HMRC so that you can declare and pay tax on rental income you collect. You declare your rental income by filling out a self assessment tax return form.
How to Register as a Landlord With HMRC
You can register as a Landlord on the HMRC website online. However the form you need to use depends on whether you already fill out a self assessment tax return already or not.
How to Register as a Landlord if You Have Never Filled Out a Self Assessment Tax Return
There is an online form you can fill out and submit to HMRC to register as a landlord. You’ll need to fill out your personal details and select the option: “I am getting income from Land and Property in the UK”.
Once processed HMRC will register you as a Landlord and send you out a 10 digit code. This code is a Unique Tax Payers Reference and it is important so you must keep it safe.
How to Register as a Landlord if You Already Fill Out a Self Assessment Tax Return
If you already fill out a Self Assessment Tax Return then you don’t need to complete a form. When you file your tax return you need to select the option to complete the Land and Property section.
The Deadline to Register as a Landlord
You must register as a Landlord by the 5th October following the tax year that you started receiving rent. A tax year runs from 6 April to 5 April.
Say you begun receiving rental income on 31 January 2018. You must register as a Landlord with HMRC by 5 October 2018.
What Happens Once You Are Registered as a Landlord
Once registered as a landlord with HMRC you will need to complete a self assessment tax return. A self assessment tax return form is due by 31 January each each, along with any tax due.
Everyone must file their tax return online except in really special circumstances.