Any income from property in the UK will give rise to the landlord making a declaration once a year to HMRC. This declaration or tax return is required irrespective of whether or not a profit or surplus arises from the rental activity and is the primary source of information for the authorities. An annual 'self assessment' tax return is made by individuals, partnerships, trustees and corporations.
- Q.
- What is the deadline date for the submission of an annual tax return in the UK?
- A.
- For individuals and partnerships, the annual return must be submitted by 31st January following the year of assessment for which the return is being made. For UK corporations the returns must be submitted within 12 months of the company's year-end. Non-resident corporations are 31st January.