Paying rental tax

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Whatarotty
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Paying rental tax

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Post by Whatarotty »

I rent from a friend and would like to cut out middle man by paying the rental tax myself, does anyone else do this and could you please share the procedure.

Many thanks

ozankoys
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Re: Paying rental tax

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Post by ozankoys »

Hi you have to pay 10% of the gross rent by the 16th of the following month. Go into the tax office turn left through the doors & straight ahead, take the rental contract + a copy they will give you a file number. Take the contract & this slip back to the first desk as you walk in they will charge the stamp duty & stamp the contract. The fee is 0.5% of the gross contract value eg £300 per month for 12 months = £3600 x 0.5% = £18 if the contract is more than a month old this is doubled.
When the tax is due you get a form from the first desk, fill in the owner's name, passport no, tenant's name (i.e. Your's) the property address, the rent paid & the 10% tax they will enter onto the computer, give you a form you take to the cashier where you pay the tax.

Whatarotty
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Re: Paying rental tax

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Post by Whatarotty »

Ozankoys thank you very much!! Most helpful ......

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