abbeysea chan
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Is NIC mandatory for landlord with more than 1 property
Hi Officer, I have 3 questions on the above topic: 1) Does NI class 2 or 4 become mandatory for landlord with more than 1 property, when the total rental income for the 2 properties at 18,000 per year? 2) Does it make any different if being the landlord is his main job? or what if he gets an employment later? 3) NI calculation in Self Assessment comes after Self-employment section. If Rental Income needs to pay NI, should I put the rental income in Self-Employment Section and register the income as a self-employed business, OR remain in UK Land and Property Section? Thanks -
Employ partner as Property Management Agent to have expense deductible
My property is joint tenant with my partner. Instead of hiring property agents, I hire my partner to manage our property and charged at the market rate. That will be the main job of my partner and she will pay income tax herself as self-employed of course. Is this Full Service Management Fee deductible just in the same way as hiring from outside?