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Posted Wed, 23 Aug 2023 15:06:14 GMT by
Hi I have purchased a property in the UK and rented it out since December last year. I calculated the total income is 2780, while the total allowable expenses is 2849. Therefore it resulted in a net loss of 69. Do I need to file a tax return and self-assessment in this case? Thank you!
Posted Wed, 30 Aug 2023 16:57:56 GMT by HMRC Admin 25 Response
Hi Zoe Fong,
Thank you for your question.
We have assumed you are a UK tax resident.
As far as rental income is concerned you only need to complete a tax return if your net profit was £2500 or more or the gross rents (before expenses) were more than £10,000.
So based on the amounts you have quoted you do not need to complete a tax return.
You can either phone us and give details of the rental income and expenses or write to us with the details.
You can use this link to see whether you need to complete a tax return for any other reason:
Check if you need to send a Self Assessment tax return
Thank you. 

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