- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch
Where Taxpayers and Advisers Meet
Renting out a flat
I'm looking to move in with my boyfriend and rent out my one bedroom flat. I will be paying rent to my boyfriend and would like to find out if am I able to offset this payment with the rent I get on my flat? i.e. include this in my tax return along with the mortgage, 10% wear and tear, maintenance, insurance etc. therefore reducing my income tax bill.
Unfortunately the law doesn't allow offestting rent payable on one proeprty against rent receivable from another property.
Your partner should be aware that if he rents out a room of his house he is entitled to an amount of rent appx £4000 tax-free (rent-a-room scheme).
I hope this helps.
Demetris Savva BA FCCA
http://www.tax-accounting-london.info
FREE tax newsletters and FREE Special Report on How to Save Tax
Your partner should be aware that if he rents out a room of his house he is entitled to an amount of rent appx £4000 tax-free (rent-a-room scheme).
I hope this helps.
Demetris Savva BA FCCA
http://www.tax-accounting-london.info
FREE tax newsletters and FREE Special Report on How to Save Tax
