The final declaration is the whole return
Under Making Tax Digital the tax return is called the final declaration, and it covers every source of income for the year, not just the rent. LetCompliance puts your UK property income into it. HMRC adds some information itself, such as employment income and pensions. Anything else has to come from your software.
When to finish the year somewhere else
The page asks three questions first and stops you if an answer means the return would be incomplete:
- You had savings interest, dividends, partnership profit or other income HMRC does not add itself. Keep sending your quarterly updates here, and send the return with software that can add that income
- You also have self-employment or foreign property income. Send the return with the software you use for that
- You need to claim property losses from an earlier year, or capital allowances on anything other than a car
GOV.UK allows more than one software product, as long as each separate submission is made from one of them.
What you can claim here
The year end covers the property allowance, Rent-a-Room relief, finance costs brought forward, capital allowances on a car, replacing domestic items, a private use adjustment and a balancing charge, and it confirms the cash basis with HMRC.
Sending it
Run the calculation, read the Income Tax and National Insurance HMRC works out, confirm, and send. The deadline is 31 January after the tax year ends. If something changes later, the return can still be amended.
