SE23.com - The Official Forum for Forest Hill & Honor Oak, London SE23
Online since 2002  -  10,000+ members

Home | SE23 Topics | Shops & Services | Wider Topics | Offered/Wanted/Lost/Found | Advertising | Contact
Geddes Hairdressing & Barbering Studio One Armstrong & Co Solicitors Adult Learning Lewisham


Post Reply  Post Topic 
Inherited property in SE23 - what do I do with it?!
Author Message
Brynglas


Posts: 1
Joined: Oct 2018
Post: #1
11-10-2018 01:25 PM

Hi!

I've recently inherited a flat here from my grandmother who used to live there and passed away recently, and was wondering what I should do with it. My first choice so far is letting it but I'm not sure sure how that affects my taxes - does anyone else let in London and can tell me more about how it works? Is it just added to my overall income and taxed the same as a second job would, i.e easy calculable with this tax calculator I use normally, or is it something else? Any advice helps!!

Cheers Smile

Find all posts by this user Reply
samuelsen


Posts: 174
Joined: Feb 2016
Post: #2
11-10-2018 02:20 PM

have pm'd you

Find all posts by this user Reply
Sherwood


Posts: 1,347
Joined: Mar 2005
Post: #3
13-10-2018 11:04 AM

It will affect your tax position. HMRC will require you to use an approved software accounting package from April 2020 and submit quarterly returns. Watch the Budget on Monday 29 October as there is a rumour that the Chancellor may also require you to pay tax on account quarterly.

Find all posts by this user Reply

Friends of Blythe Hill Fields