Hi All,
I have an apartment i rent out and i have already registered with the PTRB now i need to figure out how i pay the tax on the rental income.
I am a PAYE earner but i understand the income on my property is paid my self assessment? So when working out my tax on my rental property does anyone know the form i need? Is it Leaflet IT 10??
Do i count my rental income as an addition to my other earnings so therefore earnings up to 34,000 @20% and then 40% thereafter.
I understand about the allowable deductions i'm just looking for a bit of help on the form and what is taxable.
Thanks
I have an apartment i rent out and i have already registered with the PTRB now i need to figure out how i pay the tax on the rental income.
I am a PAYE earner but i understand the income on my property is paid my self assessment? So when working out my tax on my rental property does anyone know the form i need? Is it Leaflet IT 10??
Do i count my rental income as an addition to my other earnings so therefore earnings up to 34,000 @20% and then 40% thereafter.
I understand about the allowable deductions i'm just looking for a bit of help on the form and what is taxable.
Thanks