Sole Trader who also rents out her home

I currently complete a self assement form as a sole trader for my travel agency business. I now also rent out my home. How do I declare income from the rental? This is my primary property and I only rent this one.

Hi,

As you already have a Self Assessment record and complete tax returns, we would advise that if the Self Assessment criteria is met for renting out your home, as in a net rental income of £2,500 or more, then you would opt in to complete the SA105 UK property supplementary page when completing the relevant tax return.

If your net rental income figures falls below the £2,500 threshold, then we would suggest contacting HMRC who would then deal with this through PAYE.

Thank you.