Yarrow
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RE: 2023/4 Paid Paye and Unpaid Rental Income Tax
Hello HMRC ADMIN,could i kindy have a reply please -
2023/4 Paid Paye and Unpaid Rental Income Tax
Hi i have a private pension ,a state pension and a 50% income from a rental property . My income for 23/24 was £24,534.96 private pension plus state pension of £9791. I have paid all my tax for this year through PAYE . The issue is when i complete my self assessment tax return for 23/24 and add in my £7885 income from my rental income the system calculate that i owe £5,675.40 in tax .I dont owe any back tax. Obviously this isnt correct as i have paid all my income tax tax on my pensions ,so should only be owning 20% of the £7,882 rental income. The only figures i have have entered into the self assessment are the pension and rental figures ,can you kindly assist in how best to fill in the form to reflect that only my rental income needs taxing (as i have paid tax on my pensions). Kind Regards