M
Mikeww
Under the Rent a Room Scheme someone can rent out a room in their own
home to someone (for residential purposes) and obtain up to (I think)
£4250 in the year tax free.
I have seen a terraced house for sale which is still legally one
property, but the first floor has been made into a self-contained
unit, and the ground floor has also been made into another
self-contained unit.
If I lived in one "unit" (one floor of the house), and I rented out
the other floor at no more than the rent-a-room threshold, would
Inland Revenue still consider this as coming under rent-a-room and
therefore tax free?
Or would they consider it as being a rental property?
home to someone (for residential purposes) and obtain up to (I think)
£4250 in the year tax free.
I have seen a terraced house for sale which is still legally one
property, but the first floor has been made into a self-contained
unit, and the ground floor has also been made into another
self-contained unit.
If I lived in one "unit" (one floor of the house), and I rented out
the other floor at no more than the rent-a-room threshold, would
Inland Revenue still consider this as coming under rent-a-room and
therefore tax free?
Or would they consider it as being a rental property?