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Investment Income: Property

Question for Treasury

UIN HL2080, tabled on 15 July 2021

To ask Her Majesty's Government how many individuals in each local authority declared income from property, excluding furnished holiday lettings, on their Self-Assessment tax returns in the latest year for which data is available.

Answered on

27 July 2021

The numbers of individuals in each local authority that declared income from property excluding furnished holiday lettings via their Self-Assessment tax returns in 2019-20 are provided in the attached table, rounded to the nearest 10.

It should also be noted that:

  • Not all individuals with property income are required to declare it. For example, those with income below the £1,000 property allowance are not required to tell HMRC.
  • Some individuals with property income between £1,000 to £2,500 will declare this via PAYE rather than Self-Assessment. These individuals are not included in this data.

In March, the Government announced that it will legislate to change the criteria determining whether a holiday let is valued for business rates to account for the number of days it was let. This will ensure that owners of properties cannot reduce their tax liability by declaring that a property is available for let while making little or no actual effort to do so. Further details of the change and implementation will be included in the Ministry for Housing, Communities and Local Government’s (MHCLG) response to the consultation on the business rates treatment of self-catering accommodation which will be published shortly.

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