B
blackie
Guest
Hi All,
I have read previous posts on the rent a room scheme on this forum but just wanted a bit of advice how to go about renting a room.
I bought an affordable property and am aware that I can rent out a room with no tax implications up to the value of 10,000e per yr. I just want to clarify - does that figure include utilities?
Also, would I need a contract of some sort in place for the tenant, or is that going overboard for the rent a room scheme purpose? I have heard people mention rent books. Should I be looking at that and if so, how would I obtain information?
Also, what form would I need to fill in from revenue to declare the 10,000e income?
sorry about all the queries..just frantically looking for advice.
Ideally would love to rent out entire property but know that's a dodgy one, so will try to muddle through and survive the hardship that paying the mortgage has become, using the rent a room scheme
thanks to all in advance for all the help
I have read previous posts on the rent a room scheme on this forum but just wanted a bit of advice how to go about renting a room.
I bought an affordable property and am aware that I can rent out a room with no tax implications up to the value of 10,000e per yr. I just want to clarify - does that figure include utilities?
Also, would I need a contract of some sort in place for the tenant, or is that going overboard for the rent a room scheme purpose? I have heard people mention rent books. Should I be looking at that and if so, how would I obtain information?
Also, what form would I need to fill in from revenue to declare the 10,000e income?
sorry about all the queries..just frantically looking for advice.
Ideally would love to rent out entire property but know that's a dodgy one, so will try to muddle through and survive the hardship that paying the mortgage has become, using the rent a room scheme
thanks to all in advance for all the help