UK Landlord Forum / Life

I  bought a house  in 1996 and lived in it until 2009 when I moved in with my new partner, and I rent out the property for £675 per month, this being below the personal allowance , I also gave up my job so have no other income, does anybody know whether I am bound to do a self assessment tax return..?

Only if you make a profit.

Which I assume you do, as you can live off the rent.

So yes, you will need to report this income by way of Self Assessment, but no tax will be payable.

It might work out for you as often some interest paid accounts can have tax deducted, which you will get back.

Plus if this is your only income you can then apply to pay National Insurance to protect your pension eligibility.

Thank you for the reply, yes the house is now paid for  so it's all profit. I do have nine years catch up to do on my national insurance but have come to realise that pensions aren't a thing you can rely on to give you a good income, the house itself is my pension , was hard to pay off the mortgage but thankfully it's all working out as planned....thanks again.