Landladies! Do I need to submit a HMRC return in my first BTL year?

[PayingItRight]

I bought a BTL house in August 2022. It has been tenanted since one week after purchase.

I have received 5 rent payments since then. Am I right in thinking that I submit the self-assesment tax for this Jan 2024, not Jan 2023, as it's my first year with this income?

Thanks in advance.

You are correct. The Jan 2023 deadline is for self employed and rental income up to April 2022.

Yes, you don’t have to wait until January 2024 though. You can do it as soon as this tax year ends (5th April 23 is the last day). Just make sure you have all your records together of income and expenses before doing it.