New landlords are being reminded that they must tell HMRC by 5 October if they need to file a self-assessment return for the previous tax year.
People can register for Self Assessment on GOV.UK and will receive their Unique Taxpayer Reference, which is needed to complete their tax return.
Anyone who is unsure if they need to submit a return can use HMRC’s free online checking tool on GOV.UK before registering.
Self assessment customers have until 31 January 2026 to complete their tax return and pay any tax owed for the 2024 to 2025 tax year. Guidance and support are available on GOV.UK to help people with their returns.
Landlords don’t need to wait until January to start their return. Filing early and knowing how much tax they owe sooner can help with budgeting and spreading the cost across the year or if a refund is due that will be made sooner.
Anyone who no longer needs to file a Self Assessment tax return should also let HMRC know as soon as possible.
Myrtle Lloyd, HMRC’s chief customer officer, said: “Thousands of people join Self Assessment each year and anyone new to Self Assessment for the 2024-25 tax year should register as soon as possible.
“Just search ‘register for Self Assessment’ on GOV.UK to access a wide range of resources to help with registering and sign up today.”
Sole traders and landlords with a qualifying income over £50,000 will also be required to use Making Tax Digital (MTD) for income tax from 6 April 2026.
This article is taken from Landlord Today