Tax returns, regular income and rental property! Ugh.

[HenriettaChicken]

I hope I'm posting this in the right place.

I have a 'regular' job as a teacher, but also rent out a property where I lived before I got married and moved in with DH.

Not a huge amount of profit, but we get the mortgage paid, and about £1000 profit after interest/repairs/insurance etc.

I am currently attempting my first online self assessment form. Turns out I'm not that good at it!

It's asking if I'm employed - so my question is, when you fill in a tax return do you put all the information in about your regular job and then additional info about this side project? Or is it just the rental they want to know about? I don't want to end up paying tax on my teaching work twice over!

Thanks. Sorry for the ridiculousness of this question.

It's asking if I'm employed - so my question is, when you fill in a tax return do you put all the information in about your regular job and then additional info about this side project?

Yes

Or is it just the rental they want to know about? I don't want to end up paying tax on my teaching work twice over!

You enter the tax paid through PAYE in the employment section (from your P60) so it takes that off the total due.

Everything needs to go on the form. At the end you look at what you have already paid via PAYE etc and compare the difference

Excellent - thank you!

I recommend this so often I'm starting to sound like a sales rep.. (I'm not) .. but the TaxCalc personal taxation software is really good at leading you through all of the parts of the SA process relevant to your circumstances and makes submitting returns online really easy. Costs about £25

the online system (which you must be using as it is too late for a paper return) has separate sections for your employment and your rental, the latter is under 'property'.

As always, gathering the data is the hard bit, but the return itself doesn't take too long. I see no need for anything other than the HMRC online system if these are your circumstances. The only thing it doesn't cope with is if you are an expat too.

Special subject, you're right. It turns out I'm more organised than I realised - and had all the info on my P60 and a spreadsheet.

I've filled it all in and submitted it before lunch! Feeling quite chipper.

Thank you all for your help.

Splendid. there aren't many times in life when feeling smug is justifiable - but I think that just after submitting the tax return is an allowable exception!