Rent

A Young Landlord

We were contacted by a young landlord with 5 years undeclared rental income. She inherited the property and had continued to rent it to the current tenants. Being naive she didn’t realise that this income was taxable! After a conversation with a friend she suddenly realised that rental income is taxable and began to panic!…

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30 day deadline

Undeclared Landlord

A landlord contacted us after receiving a letter from HMRC about undeclared rental income for the last 3 years. The letter worried them as it gave them 30 days to respond. They tried to deal with it themselves by registering for self assessment but found it all too complicated and were unsure what to do…

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Money

Minimum Wage Changes

On 1st April 2019 the national minimum wage for different age ranges will change. This will mean that you may need to change the wages of your employees or may be entitled to a wage rise. These changes will be: Adults (25+) from £7.83 to £8.21 Adults (21-24) from £7.38 to £7.70 18-20 Year olds from…

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saving

Pension Contributions Increases

From 6th April 2019, pension contribution rates have increased for any employee who is in a pension scheme. The minimum contribution rates have changed to: Employer minimum contribution from 2% to 3% Employee minimum contribution from 3% to 5% By law, any employer with a pension scheme must meet these minimum contributions. To find out…

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Making tax digital

Making Tax Digital

If you are VAT registered with a turnover over £85,000, you will need to register for Making Tax Digital from the first VAT return starting after 1st April 2019. For most of our clients, this will be the period ending 30th June 2019 which will be due on 7th August 2019. It seems that HMRC’s…

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Rent 2

Recently we were described as marvellous by a landlord who didn’t declare their rental income. They initially thought they would owe £10,000 in tax. We got this reduced to just over £100!

If you are a landlord who needs to declare previous rental income, contact us on 01752 344 582 or email admin@marslands.co.uk.

To let

Undeclared Rental Income

Recently we were described as “marvellous” by a landlord who hadn’t declared their rental income. They initially thought they would owe £10,000 in tax. We got this reduced to just over £100!
If you are a landlord who needs to declare previous rental income, contact us on 01752 344582 or email admin@marslands.co.uk.