I'm considering a small portfolio of rental properties:
1. some are in joint ownership
2. some qualify as FHL
3. some do not qualify as FHL but receive some rent from short lets (31 days or less)
Question: what portion of rental income is used to determine potential vat threshold?
a) ownership % of all of the income from properties that qualify as FHL
b) ownership % of all short let income regardless of FHL status
c) the "short let business" rental income, regardless of ownership split or property status.
d) if running an estate agency model, only the income from managing the properties, with landlords being paid a non-vatable guaranted rent according their ownership %
e) something else?
Thank you for your views.
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