As a Portadown landlord, it’s important to understand your tax obligations and file a tax return each year. This is to report your rental income and claim any deductions or credits you’re entitled to. It can be a daunting prospect, particularly for first-time landlords. In this step-by-step guide, we will help you through the process of filing a landlord tax return, from gathering your records to determining gross rental income, claiming expenses and finally filing your return. Earning a passive income through property is a powerful concept. This does, however, mean that you will need pay tax on it and consequently, will need to file a self-assessment tax return. Adding property income to a self-assessment is straightforward if you already file one. If youaren’t in this position, however, it can still be done and most importantly, can be done online. 1. Register with HMRC The first step is to register…
As a landlord in Portadown, you know the costs of owning a rental property can add up quickly. From mortgage payments to insurance and…
Without doubt your investment property is one of the most valuable assets you can ever own. So, it’s important to ensure that it is…
There are a number of reasons why a landlord could be looking to switch letting agents. The largest misconception however, regardless of reason, is…
Every landlord and property investor have their own bespoke strategy and preferences when it comes to investing; be it the hands-on time-consuming approach, or…
Sustaining a long-lasting tenancy is built on the foundations of trust, and a positive opinion of both you as their landlord and the property…
There has been an ongoing review of the Private Rented Sector for some time now and submissions were requested a few weeks ago from…
Did you know… ? Three people died in separate fires in the last eight days in Northern Ireland. As a private landlord, you have…
Most people who are landlords do it for one reason – to make money. Whether that’s through a long-term strategy of paying off a…