Do I need to pay tax on rental income?
If you have net rental income on which you’ll have tax to pay, (rent minus expenses) then you must register for a Self- Assessment tax return and keep a record of your rental income and ‘allowable’ expenses (you can find out what they are here...Should I pay myself extra salary or extra dividends?
Generally, for small Companies, dividends are still more tax efficient than salary because they avoid 13.8% Employer’s National Insurance plus, possibly, 12% Employee’s National Insurance. So usually it’s better to vote, and pay dividends – but it depends on your...Can HMRC collect unpaid tax from my salary?
HMRC can collect outstanding tax via an employed tax code after a Self-Employed business fails.
Common mistakes made in Self-Assessment Tax Returns
Common errors and information that people forget to include on their Self-Assessment Tax Returns