Rental income tax return

[mammy76]

Hi .Hope someone can help with advice on filing a rental income tax return for the first time. Both my husband and I are fulltime PAYE workers earning 22000 and 42000 per annum , we also have rental income from farm land rented out of 9250.We have very little expenses to claim against this. I have calculated our tax liability for 2013 at approx. 5000, this seems like an awful lot or is it just me !!! Thanks

 

[fearbeag]

Just to let you know you should have done your tax return for 2013 before the end of October. If you haven't you should look into that straight away.
It would seem that you have used up all your tax credits at 20% and have to pay everything from the land rental at the higher rate.
It would be worth talking to an accountant to ensure you are claiming the right expenses etc.