Do I need to complete Tax return | AccountingWEB

Do I need to complete Tax return


I am letting a property and make about £2000 profit from letting this property after all the expenses.

I read on directgov website that i only need to submit a return if my income is:

 - £2,500 or more income from property (after deducting allowable expenses)

but my income is below £2500.

Am i right in thinking that i dont need to submit a return? but do i need to pay tax on my profits.

Thanks in advance.

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TaxationPete |


Anthony123 |