Are you thinking of becoming a landlord? Whether you’re looking to invest in just one property or build a portfolio, it can be hard to know where to begin – or, indeed, whether or not it’s a wise move at all.
The UK recently enjoyed its hottest June day since 1976, with temperatures edging close to 35C in some parts of the country. When the sun’s shining and the temperature’s soaring, how do you stay focused on your business?
It’s always a nice feeling, seeing your rental income appear in your bank account. But what if your tenant was a hairdresser, or a baker? Would you forego some of that rent in exchange for free haircuts or cake?
As a landlord, you might not think of yourself as self-employed or a small business owner. HMRC, however, does, and if you’re making money from renting out your properties you’ll need to fill in a Self Assessment tax return.