My wife and myself own 21 BTL properties.
We both work full time (employed), and we both receive a P60 each year from our employers
We are both registered as property investors with HMRC.
Every year we each submit an online self assessment for our employed earnings, and we also each submit an online 'land & property' tax return for our btl earnings.
Our local NI office have sent a form to my wife entitled 'Property letting form' which asks for details of her level of involvement with the day to day running of our btl business.
Apart from monthly book keeping my wife has no involvement with the btl business.
Is my wife liable for NI contributions and is she 'self employed'?
As i understand it, long term property investing is regarded by HMRC as a trade and therefore NI contributions are not payable.
We do not do any property developing, we do not buy and sell quickly, we simply buy and hold property for the long term.
Can any one please clarify the position for me.
Thank you
John
We both work full time (employed), and we both receive a P60 each year from our employers
We are both registered as property investors with HMRC.
Every year we each submit an online self assessment for our employed earnings, and we also each submit an online 'land & property' tax return for our btl earnings.
Our local NI office have sent a form to my wife entitled 'Property letting form' which asks for details of her level of involvement with the day to day running of our btl business.
Apart from monthly book keeping my wife has no involvement with the btl business.
Is my wife liable for NI contributions and is she 'self employed'?
As i understand it, long term property investing is regarded by HMRC as a trade and therefore NI contributions are not payable.
We do not do any property developing, we do not buy and sell quickly, we simply buy and hold property for the long term.
Can any one please clarify the position for me.
Thank you
John