Introduction

Every year, landlords who receive rental income need to consider their tax position and report their income through Self Assessment where required. This involves calculating rental profits correctly and making sure all relevant expenses, allowances and exemptions have been considered. Landlords with rental income below £1,000 may be covered by the property allowance. Where gross rental income falls between £1,000 and £2,500, landlords should contact HMRC to establish their reporting obligations. Rental income of £2,500 or more will generally require registration for Self Assessment and the submission of tax returns.

Our Buy-to-Let Tax Services

Managing the tax position of rental properties can become increasingly complicated as a property portfolio grows.

What We Do

Rental Profit | Calculate your taxable rental profit and ensure the appropriate income and expenses are taken into account. Self Assessment | Register landlords where necessary and complete annual tax returns covering rental income. Tax Relief | Identify allowable expenses and reliefs that can reduce your overall tax liability. Capital Gains Tax | Provide advice on the tax implications of selling a rental or investment property. Making Tax Digital | Help landlords understand and prepare for the changes being introduced under Making Tax Digital for Income Tax.

Tax advice

Who We Help

Whether you are preparing to let your first property or have been a landlord for many years, we can provide advice on the compliance requirements associated with rental income, as well as helping you plan for the future. This can include planning for the eventual sale of properties or considering how your property assets may be passed on.

Speak with our team today

Key Contact

Liam Coulter

Tax Director

There are a range of costs that may be deductible when calculating taxable rental profits. The rules can be complex, so professional advice can help ensure that appropriate expenses are identified and claimed. Expenses can include:
  • Advertising and marketing costs
  • Maintenance and repair costs
  • Ground rent
  • Buildings, contents and public liability insurance
  • Legal and accountancy fees
  • Letting agent and property management fees
  • Mortgage interest, subject to the applicable tax relief rules
  • Travel and other expenses associated with servicing the property
This is not an exhaustive list. Other expenses and reliefs may also be available depending on the circumstances of the property and landlord.
When selling property, there are other specific reliefs available. For example, when calculating any Capital Gains Tax (CGT) that might be chargeable on a property sale, you get relief for all (or some of) the years that you’ve lived in the property, and for the final nine months of your ownership (private residence relief).  There are also opportunities to reduce your bill by deducting the cost of any improvements made that have increased the property’s value. For example, adding an extension, loft conversion, or a new kitchen-diner before sale would be tax deductible.   Solicitor fees and estate agent fees paid when you purchased and sold the property can also be factored into the CGT calculation. 
Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA), also known as Making Tax Digital for Income Tax, has come into effect from 6 April 2026:  
  • From April 2026 for sole traders and landlords with business or property income above £50,000  
  • From April 2027 for sole traders and landlords with business or property income above £30,000 
  • The Government has announced its intent to expand this scheme to include those with an income below £30,000, however specific details have not yet been released. 
Under Making Tax Digital, landlords will be required to send quarterly updates to HMRC, as well as a final declaration by 31st January.     

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