Who do I need to tell that I've rented my flat out?

[lowrib]

First time landlord here!

When I rent my flat out, it's effectively a business, isn't it? So who do I need to tell?

HMCR maybe? The tax people?

Sorry for the naive questions - I'm new to all this!

TIA

Presumably you have already checked with your mortgage company that their terms of mortgage allow you to let your flat to paying tenants?

don't know re income - but you need to let your mortgage folk know

Mortgage company, they may not let you keep your current mortgage but insist you change to a buy-to-let.

Your insurance company.

When your tenants move in you will notify all of your utility companies (dont forget phone and cable/internet).

You dont need to notify HMRC unless you are going overseas in which case you need to get a registration number.

But you will need to declare any profit after the mortgage/expenses on your annual tax return.

Buildings insurer.
Mortgage provider (if mortgaged).
HMRC so that you get a tax return

• if you let it before 5 April 2010 then your first return will be date of letting - 5 April 2010 and will be due by 31 Jan 2011. Tax also due on that date.
• if you let it after 5 April 2010 then your first return will be date of letting - 5 April 2011 and will be due by 31 Jan 2012. Tax also due on that date. Council tax (assuming you live there are present, you need to tell them when you move out so that you are no longer liable). Ditto service providers.

Brilliant, thanks everyone that's much clearer now