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Hi, I have just joined Quickbooks.
I am self employed as a yoga instructor but also receive income from a rental property. Do they need to be recorded separately in the transactions or are they all just business income.
How do you then advise HMRC that some of it is property income related? Thank you.
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Hi KC82 If you receive rental income from properties and being a landlord is not the nature of your self employed business then you would have to complete and submit an SA105. We must make you aware that we aren't accountants and we advise you to qualify the above with an accountant.
Hello @DebsG,
You can enter the payment for the rental property you own as a business income but not a separate income. However, I'd still recommend contacting your account for additional assistance in recording these transactions and help you let the HMRC about them when submitting your return.
If you haven't yet, you can find an expert near you through this link: Find an accountant or bookkeeper.
In addition, here's an article you can read to learn more about recording a single transaction: Manually add transactions in QuickBooks Self-Employed.
Lastly, I've also included this reference to help you understand the features you can utilise with your new account: QuickBooks Self-Employed Overview.
If there's anything else that I can help you with, feel free and leave them in the comments. Stay safe!
Hi, did you get anywhere with this as I also have the same query. I’m a Pilates instructor but also have a rental property - where do I record this??
Hi KC82 If you receive rental income from properties and being a landlord is not the nature of your self employed business then you would have to complete and submit an SA105. We must make you aware that we aren't accountants and we advise you to qualify the above with an accountant.
Dear Help Desk Team, so we should understand - side rental income shall not go into our quick-books and we have to enter/declare them manually/separately. Thank you
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