Manchester Property News
Income from property more than doubled in 10 years
Tom Simper
May 5, 2023, 15:00 PM
Latest data released by HMRC indicates that over 2.1 million UK taxpayers received income from property in the tax year 2020/21, receiving on average a net income of £11,400.
Collectively these taxpayers received a total net income of £24.5 billion (net) in the tax year 2020/21, up 5% year on year. This is despite the fact the 2020/21 data includes the effects of the landlords' interest restriction, phased in since 2017/18.
50% of individuals received between £20,000 and £50,000 in total gross income, although one in eleven received £100,000 or more. Such individuals accounted for over 19% of the total net income received.
The number of UK taxpayers receiving an income from property rose by close to a quarter of a million in the 5 years to 2020/21. Source: Dataloft, HMRC, 2023.
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