Self Assessment Tax Help

[jenny_bossons]

Hi,

I have just started to rent out a property I have inherited and I am wondering how I go about registering for self assessment, I have phoned the self assessment helpline but they have told me that I need to send in a letter with as much detail about the house as possible.

Please could someone advise me if this is necessary and if so could you please tell me what details they will need in the letter. Also is there a specific date that I have to register by?

Any help with this would be appreciated.

Thanks,

Jenny

[plym77]

Hi Jenny

You have to register for self assessment by the 6 October following the tax year in which you started your letting business. Therefore if you did not start until after 5 April 2006 then in theory you do not have to register until 6 October 2007. I would however advise that you register as soon as you can.

All you have to do is write to the tax office, providing your national insurance number and address and stating when you started to recieve rental income and that you require a UTR (unique tax reference) for Self Assessment.

If you did not start your rental business until after 5 April 2006, then the first return required will be for the tax year ended 5 April 2007, and the deadline for submission of this is 31 January 2008.

If you have any further queries, please let me know.

Regards

Sherena