Wouldn't it be hard to prove he lives elsewhere?Are you looking to retain a room to take advantage of the rent a room scheme? Obviously there are huge tax benefits in availing of this scheme, however I do not believe simply retaining a room with your possessions will qualify you for this scheme considering you will be living somewhere else.
I suggest you look at some of the key posts here regarding the many issues associated with becoming a landlord.
Wouldn't it be hard to prove he lives elsewhere?
I'm reminded of a time my Dad's tax advisors found a loophole that would save a nice few quid; only problem was my folks would have to separate. That went down well...
That is brilliant.
Could be as good a reason as any.
Brendan
The Swiss separate on paper for more advantageous taxThat is brilliant.
Could be as good a reason as any.
Brendan
What if he keeps the leccy bill in his name?No it wouldn't.
Not if his and his spouse's / partner's PPSN's are linked to a PRTB tenancy on another property.
Not if there are utilities or services in their name(s) at the other property.
Not if they've got valid motor insurance I.e. they've answered the "where is your car kept overnight?" question honestly.
Not if they've got kids, which would seem likely, since OP says they're looking to let out a 4-bedroom house to move to something bigger...
Bronte, what is the problem? I want to retain a say in my house, and also some storage to make our move less stressful. I don't think there's any need for such a comment.
Again, we will pay income tax, register the leases and have 2-3 licensees as well as retaining a share. Any pitfalls or problems based on that?
I wouldn't be taking their word for it - after all they have a direct vested interest in advising people to register and pay fees to them.I think the PRTB will not agree that you don't register with them.
I wouldn't be taking their word for it - after all they have a direct vested interest in advising people to register and pay fees to them.
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