Income Tax on Property

Income Tax on Property

Postby Freeedom » Wed Aug 24, 2011 9:59 am

Hi all,

First of all I have to say my eyes and mind have been blown wide open to the information that has been shared by Veronica of the Chapman family and by reading all the amazing success stories given by every beautiful living, breathing Human Being on this forum!

I am personally involved with a Tax issue at the moment on a rented out property.

I am being investigated as to why I have not submitted any accounts for any possible income! Although i have made a loss over the past 4 years, it is still a stressful time for me as I am having to prove this fact!

While I am 95% there on submitting my accounts I didn't realise that I didn't have to pay income tax as I am self employed and haven't been paying any NI for the past 6 months!

Am I correct in believing this is correct and is this still a valid argument for me to put forward even though it has only been 6 months that I have not been paying NI.

Any feedback would be much appreciated.

Freeedom
Freeedom
 
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