How to declare rental income on self-assessment tax return with GoSimpleTax
Join Adam in this detailed tutorial on how to declare rental income on your self-assessment tax return with GoSimpleTax software. Ideal for landlords managing one or several properties, this video provides a step-by-step guide to navigating…
5 Minute Read
Last Updated: 19th April 2024
Join Adam in this detailed tutorial on how to declare rental income on your self-assessment tax return with GoSimpleTax software. Ideal for landlords managing one or several properties, this video provides a step-by-step guide to navigating the property pages of your tax return, ensuring you accurately report your property income to HMRC.
Learn how to use GoSimpleTax, accessible directly in your browser to streamline the reporting process. Adam covers key aspects, including the differences between normal rental properties, rent-a-room relief, and furnished holiday lets. Understand how to input income and expenses for each property type, leveraging the software’s guidance and tips to meet HMRC’s criteria and maximize your tax benefits.
We will show you how to handle various property income scenarios like sharing income with a joint property owner. Adam also explains the significance of the rent-a-room scheme and the advantages of declaring a property as a furnished holiday let.
The video offers practical advice on reducing future payments on account and the importance of record-keeping, making it a must-watch for any landlord looking to simplify their tax return process. This tutorial will equip you with the knowledge to confidently complete the property pages of your self-assessment tax return.
Blog content is for information purposes and over time may become outdated, although we do strive to keep it current. It's written to help you understand your Tax's and is not to be relied upon as professional accounting, tax and legal advice due to differences in everyone's circumstances. For additional help please contact our support team or HMRC.
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How GoSimpleTax Works
Register
Simply register for free with your full name and email address.
Select Your Income
Select the income you receive and follow the hints and tips for potential tax savings.
Validate Your Information
Validate your personal information and submit directly to HMRC to get confirmation in just seconds.
Work Anywhere, With Any Device
Gone are the days of fretting over a calculator surrounded by scraps of paper at the eleventh hour.
GoSimpleTax’s tax return software uses the information you upload in real time to calculate your income and expenditure, working out the tax you owe and sending you helpful notifications when there’s the possibility of a mistake.
"The software is intuitive and proved very easy to navigate. I found the whole process refreshingly simple. I saved a lot of money too!"
Steve J.
Ordained Presbyter
"Easy to use and value for money. Everything you need to do your tax."
Gordon J.
Self Employed
"It fills in all the forms and sends them to the Inland Revenue. Not expensive either. Takes the stress out of doing your tax return online."
Ross G.
Team Rector