Number of UK’s unincorporated landlords rises to 2.82 million

Number of UK’s unincorporated landlords rises to 2.82 million

0:02 AM, 2nd November 2023, About 8 months ago

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The number of unincorporated landlords in the UK’s private rented sector (PRS) has increased to 2.82 million in 2021 to 2022, according to new data from HM Revenue and Customs (HMRC).

The data, based on Income Tax Self-Assessment (ITSA) returns, shows that unincorporated landlords declared a total of £48.87 billion in property income from 2021 to 2022, up from £46.37 billion in 2020 to 2021. The average landlord income in that period was £17,300.

The research also reveals that most property income is concentrated in London, where 16% of unincorporated landlords are based and account for 26% of all property income from unincorporated landlords.

The report does not include incorporated landlords who have a property income or individual landlords who do not earn enough to file an ITSA return.

Average income from UK property was £17,300

The report shows that 99% of unincorporated landlords were individuals declaring property income as part of their self-assessment tax return.

The average income from UK property was £17,300 in 2021 to 2022, up from £16,300 in 2017 to 2018.

The report also shows that total income from UK property grew by 10% in the five years between 2017 to 2018 and 2021 to 2022.

This rise was driven by an increase in both average property income and the number of individuals reporting property income.

Number of unincorporated landlords increased

The number of unincorporated landlords increased to 2.82 million in 2021 to 2022 from 2.73 million in 2017 to 2018.

Unincorporated landlords in Wales, Scotland and Northern Ireland accounted for 3%, 5% and 1% of total property income respectively.

And of England’s regions, the North East accounted for the smallest proportion of property income, at 2%.

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