Additions To My Basic Salary

[Ric.ror]

I now receive rent from a house I bought - that added to my basic salary will push my into the tax bracket (I only work 2 days)
I understand I have the option to pay separately or to combine both income sources together. Is this the case and - if so - do I tell my employers so they can include this.

Hope this makes sense as when I called the HMRC hotline I was left baffled

Thanks in anticipation

[MartinMillar]

https://www.gov.uk/renting-out-a-property/paying-tax

[bobbinwales]

That link should do it, thanks martin. Its nothing to do with your employers Ric so theres no point in telling them. There tax code for you is set for them by HRMC.

[Peter Pedant]

go with Bobbs
well done for getting more moolah in your pocket

you need to fill out a tax form and tell the tax man
then fill out the form
there is one due now - this is the one I have been charged £30k more than I should ( butter fingers tax man did my form in his garding in the sun ) getting it reversed is a bit finicky
You fill in the employment part from your P60 OR last month of the financial year pay slip

and extra pages for rent - you need three line rent account:
income - expenses and taxable amount

and whack it off ! - press send I mean

the expenses are the obvious one - repair, regeneration but NOT improvement
legal fees
v elec gas during voids but not otherwise
honestly sensible stuff
NOT a charge for you mother in law to place her bottom on a cushion and blaart....the industry norm is 30% is allowable as running expenses, so if you keep it to that then you are unlikely to have the tax man ring your beeeeellll!

et voila

[and there are people on AB who think I do all this by goggling]

this is an "o god I cant do this" thing and then when you have done it a few times you think - oh easy ....

[Peter Pedant]

by the way
I have never heard of the employer
aahhhhh

the bit you read meant - I remember! -
if you have a small smount to pay once all the paper dust has settled is peanuts - say £845 in the year
then you can have your PAYE code upped and pay it that way
The tax man does it
this mechanism is not really of use for starters whcih Is where you are
and I would say is always unsuitable considering how variable rent income is