Key dates
| Date | What's due |
|---|---|
| 5 October 2027 | Register if you started letting in 2026/27 |
| 31 October 2027 | Paper return for 2026/27 |
| 31 January 2028 | Online return for 2026/27, balancing payment and first payment on account for 2027/28 |
| 31 July 2028 | Second payment on account for 2027/28 |
How payments on account work
If your last Self Assessment bill was more than £1,000, and less than 80% of your tax was taken at source (for example through PAYE), HMRC asks for two advance payments towards the next year. Each is half of the previous year's bill. In your first year of letting, you can pay the full year's bill plus the first advance payment together.
Example
Your 2026/27 bill for rental profit is £4,000 and you had no payments on account. On 31 January 2028 you pay £4,000 plus £2,000 on account for 2027/28, a total of £6,000. On 31 July 2028 you pay another £2,000.
How the 2027 rate rise feeds through
Payments on account for 2027/28 are based on your 2026/27 bill, at the old rates. The higher 24%/44%/49% rates show up in the balancing payment on 31 January 2029. Budget for it now, or ask HMRC to increase your payments.
Reducing payments on account
If you expect lower profit, you can apply to reduce them. If you reduce them too far, HMRC charges interest on the shortfall.
Frequently asked questions
Do I need to file if my rental profit is small?
If gross rent is £1,000 or less, the property allowance usually means no return is needed. Above that, or if HMRC asks, you must report it.
Can PAYE collect my rental tax?
Often yes, if you owe less than £3,000 and file online by 30 December. HMRC adjusts your tax code.
Sources
- GOV.UK: Self Assessment deadlines
- GOV.UK: Payments on account
- HM Treasury: Budget documents, 28 October 2026
Sources last checked 9 November 2026. See all our sources and how we keep pages up to date.