Didnt report income from rental

[BedraggledBlitz]

Previously I'd looked at self assessment form for property income and it said "not required as under 2.5k profit"

I've just realised I should have told them via another means - note alongside income tax or something. So now I have told them of the income for the past 4 years. Ive reported it via online form as additions to my income tax.

Stupid of me I know. What will happen next ?

Ps even with the rental income I've never been over 25k.

No idea . Could ask an accountant to advise you ?

My parents friends had a similar dilemma, only in their case they deliberately avoided rather than misunderstood the rules. They were fined just £2000 even though they had rented the house out for 10 years. They didn't have a solicitor either because they were too tight to pay for it.

That's reassuring. I wouldn't do well in prison!

You won't go to prison. Either nothing or a fine.

Thought I would follow this up in case anyone else finds themselves in this position..when I posted here I used the online service to tell HMRC my rental income for last 4 years.

Couple of weeks later I got a message from them saying I was being put on another tax code, paying more.

Today got a letter outlining tax underpaid each year and the cumulative total (about £1k) hence higher tax code to collect arrears. So a good fair outcome I think.