Salary sacrifice would not help from a child benefit point of view.
It would potentially save some NI though.
Salary sacrifice would not help from a child benefit point of view.
It would potentially save some NI though.
I do the annual self assessment submission online. It takes into account your PAYE tax and has a section for rental property. It’s more complicated than doing nothing, but worth mastering as you can save £300 PA paying an accountant. Once you’ve filled it online you can review your additional tax bill before final submission. Doing SAs was something I started when my wife had a home based business back in the day and having got the habit, do it now for rental income.
Tip: Keep a spreadsheet and add miscellaneous costs immediately as they arrive, and enter all car mileage needed for the property management, I think each mile is worth 45p of expenses deducted from the income.