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Posted Fri, 22 Nov 2024 10:45:07 GMT by Leah Rossi
Hello I bought a static caravan on a loan and have let it out on airbnb since Aug 2022. We didnt make any profit after deductions on ground rent, cleaning, general repairs and paying back the loan. Should I have been submitting tax returns even without making profit? Thank you
Posted Mon, 25 Nov 2024 10:35:03 GMT by HMRC Admin 17 Response

Hi ,
 
Basically the rules are you have to submit a self-assessment return if your net property income is more

than £2,500 or your gross income is more than £10,000.


More information on self-assessment criteria can be found here:

Check if you need to send a Self Assessment tax return   .

Thank you .

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