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For self-assessment tax return 2021-22, I entered the income from the properties and the expenses.
The property was empty and not generating any income for 3 months, but it was rented out for 9 months.
Should I enter the Total rental income for the 9 months only?
Should I enter the Total rents for the 12 months and declare a loss £££ of income for the 3 months? IF yes, then what is the name of the field that I should enter the loss of income?
I have a similar situation,
I rent out 2 properties (not a company) and I am also employed full-time.
In the self-assessment tax return, I enter the details from the P60 and the profit from properties with expenses.
I had to make 3 payments, that is:
- Payment due
-First payment on account
- Second payment on account
Does this include NIC 4 ? I understand from @HMRC Admin 19 that I should not pay NIC4.
Is there a way to stop the Self-assessment tax return from taking 2 advanced payments.
When I file my self-assessment tax return for 2021-22 I enter the details from P60 (from my permanent employment) and I enter the income from the rented property.
The company I work for pays the yearly medical insurance, which is shown on the P11d as £,££ but it is not shown on the P60.
However, I have the Tax code notice from HMRC for year-end 5 April 2021, that shows:
- Less Medical Insurance £,££
- Total Tax-free amount ££,£££
- tAX CODE ££££L
Does this mean that I don't have to declare the medical insurance benefit from my employer in the self-assessment tax return?