What Happens if You Don’t Declare Rental Income in the UK?
The Importance of Declaring Rental IncomeFailing to declare rental income is a serious offence, leading to heavy fines and interest charges.
Risk of Huge FinesPenalties can reach up to 100% of the tax owed, or even 200% for overseas income sources!
The Consequences of Non-DeclarationImagine losing your property and facing potential prison time just for not paying tax!
Tax Calculation Made SimpleCalculate your rental income, deduct allowable expenses, and pay tax on the net profit.
How to Reduce Tax on Rental IncomeClaim allowable expenses like mortgage interest, utility bills, and insurance to reduce your tax burden.
Overseas Landlords and UK TaxesOverseas landlords must declare income just like UK residents. Don't forget to register for the Non-Resident Landlord Scheme!
Missed Deadlines Can Cost YouMissed deadlines may lead to penalty points, fines, and added stress—keep on top of your taxes!
Avoid the Stress - Hire a ProfessionalConsulting an accountant or using an expert service can help ensure you never miss a filing or claim the wrong expenses.