Self Assessment checklist for landlords

Self Assessment for landlords is mostly about complete records and the property pages of the return. Use this checklist as a year-end pass before you (or your accountant) file.

Income

• Total rent received for each property in the tax year
• Any other rental receipts (for example, payments for services you provide)
• Dates properties were let, empty or personally used
• Income from jointly owned property, with the ownership split noted

Expenses and finance costs

• Agent fees, insurance, repairs, ground rent and service charges
• Invoices and bank evidence for each claim
• Mortgage interest and other qualifying finance costs (for the Section 24 tax reduction)
• Capital improvements kept separate from repairs

Ownership and elections

• Confirm whether jointly owned property should stay on the default 50/50 split or needs a Form 17 election
• Note any properties sold during the year — a 60-day Capital Gains Tax return may already have been due

Before you file

• Check you are registered for Self Assessment if this is your first year of rental income
• Diarise the 31 January online filing and payment deadline (and 31 July payment on account, if relevant)
• Keep digital copies of everything for at least the HMRC retention period

If you would rather hand the property pages to someone who prepares them every week, contact Bowker Accountants — we handle rental accounts for single lets through to portfolio landlords.