UK Landlord Forum / Life

Hi There

First of all a great site for some excellent advice,
I purchased my first buy to let on April 9th 2014 and have it let out since April 18th, when do I need to inform the Inland Revenue or should I already have done so and when will I need to pay tax if any.

I have a buy to let, interest only mortgage, sorry if abit sketchy new at this

Regards

You're ok this year.  But tax for 14-15 will be payable after the 6th of April this year and you'll have until 31st of January 2016 to pay it.

Thanks
Riptide

You need to register for self assessment way before that point though.

If you have a single property, it may be possible (whether desirable or not is up to you) to have HMRC alter your tax code so it's all done via PAYE. I did that when I had one property. Seemed sensible to me, at the time, as I was PAYE back then. You still have to tell them, obviously.