A property owner who rents/leases their property to another party in exchange for rent payments. They are expected to provide maintenance/repairs of the property, tenant is responsible for general upkeep of the property.
Responsibilities:
Landlords are usually responsible for paying stamp duty when buying the house, capital gains tax when selling and potentially inheritance tax if you inherit the property. Landlords also pay tax on net rental income = total income - allowable expenses. Allowable expenses:
You’re also expected to pay Class 2 national insurance on rental income if (a) HMRC decide you have a property business (b) profits exceed £6,725. The taxes and national insurance are paid by filing a self assessment tax return.
Our first post on our blog! We can't wait to show you what's next
Read moreHere’s how Earnr helps Etsy sellers organise their income and pay themselves a regular salary
Read moreAs part of our interest in supporting Etsy sellers, we’ve been doing some digging into the current state of the Etsy world as lockdown becomes more and more a thing of the past.
Read more