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QuickBook Self-Employed setup guide for Landlords

SOLVEDby QuickBooks1Updated November 30, 2021

If you earn an income from renting out a property in the UK and need to pay income tax on it, you’ll need to complete the Self Assessment SA105 form in addition to your main SA100 tax return

QuickBooks Self-Employed allows you to set up your income and expense categories so you can save time preparing your Self Assessment tax return. 

This product is right for your business if:

  • You earn an income from renting at least one property in the UK.
  • You don’t receive any property allowance from the government (of £1,000).
  • Your rental income is between £2,500 and £9,999 after allowable expenses.
  • Your rental income is £10,000 or more before allowable expenses. 
  • You use simplified expenses.
  • You don’t use traditional accounting.
  • You self manage the property with limited to no support from an accountant.

1. Set up your account

After signing in, answer a few questions about your business. This helps us set up your company file and tailor the program to better fit your needs.

  • If you complete an SA103 tax return for self-employment, select Sole Trader
  • If you complete an SA105 tax return for UK property, select Landlord.

Note: Make sure you select the correct option as you will not be able to go back to change it. If you’ve selected the wrong option by mistake, you’ll need to create a new account. 

2. Connect your bank account to categorise transactions

Next step is to connect your bank account so you can categorise your income and expenses. Or, you can manually enter the transactions if you choose to.

Here’s a list to help you categorise your expenses when preparing your SA105 form:

ExpensesBox number
Cost of servicesBox 28
Non-residential costsBox 26
Other property expensesBox 29
Professional feesBox 27
Property maintenanceBox 25
Rent, rates and insuranceBox 24

To learn more on what items should be categorised for the SA105 form, see page 8 on HMRC’s UK Property guide.

3. View your self-assessment summary

After you categorise your transactions, you can view your income tax preparation on the Taxes tab. You can also drill down on each categorisation to view the transactions that make up that particular box.

Note: You don’t need to complete the tax profile section as a landlord. 

That's it! You're now set up in QuickBooks Self-Employed.

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