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Insight & Opinion

Important finance and tax dates for landlords for 2016-17

Author: Staff





All property investors are likely aware that the New Year may provide more obstacles than opportunities when it comes to income.

If you’re a landlord, put the following finance and tax dates in your diary so that you’re prepared and ready for the changes:

30th December 2016

The day before the end of the year is the deadline for online submissions of self-assessment tax returns for the tax year ended 5th April 2016 for HM Revenue & Customs (HMRC) to collect tax through your PAYE codes, where less than £3,000 is owed.

1st January 2017

As the New Year arrives, the Prudential Regulation Authority’s new underwriting expectations for buy-to-let lending will come into force.

buy to let changes

31st January 2017

The last day of January is the final deadline for online tax returns, unless the notice to make an online tax return is issued by HMRC after 31st October 2016. In which case, you have three months from the date of issue. This is also the deadline to pay any tax due for paper and online filers. Specialist Landlord Insurance provider Just Landlords reminds all property investors to be aware that filing your tax return late, or failing to pay the tax you owe on time, will likely mean that you face extra penalty fees and interest charges.

6th April 2017

This is the first day of the new tax year. It is also the start of the reduction in mortgage interest relief, which will be restricted to 75% of finance costs. The remaining 25% will be available as a basic rate tax deduction. The Government has provided a guide on how this will affect property investors, here.

31st July 2017

This is the second due date for those who are liable to make any payments on account of the preceding tax year (2015-16).

Tax changes for 2017

31st October 2017

Halloween is also the deadline for filing a paper tax return, whether you choose to work out how much tax you owe yourself or want HMRC to do it. However, if you receive notice that you must file a tax return after 31st July 2016, you must send back the completed form within three months of the notice’s issue date.

Regardless of whether you’re a new or seasoned property investor, you must be aware of these important finance and tax dates for the New Year – don’t get caught out by failing to keep up to date!

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