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Where Taxpayers and Advisers Meet

Summer Rental of Main Property

mikehzzzz
Posts:2
Joined:Wed Mar 09, 2022 8:52 am
Summer Rental of Main Property

Postby mikehzzzz » Wed Mar 09, 2022 9:53 am

Hi Everyone,

We are planning to rent out our main home for 10 weeks of the summer through an agent while we live and home-work in a rented property in France.
We run an airbnb from part of our home throughout the year and usually claim the maximum rent-a-room allowance. This year, we will have income from the airbnb either side of the 10 weeks as well as income from renting the whole of our property over the 10 week period.

Having read the following article https://www.taxinsider.co.uk/rental-income-tax-free-ta I wondered if this would be considered as two different rental income streams and therefore eligible for both allowances mentioned?

Are there other tax implications we should know about? e.g. Would renting out our main home for this period makes us liable for capital gains tax if we eventually sell (no plans) or is there a grace period that means we would not? Are there additional allowances we could claim or nasty surprises I have not calculated for?

Thank you

Mike

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Summer Rental of Main Property

Postby bd6759 » Thu Mar 10, 2022 9:44 am

The test is whether you are letting a property that is or was your only or main residence during the year.

You clearly are. A 10 week absence will not change that.

Rent-a-room relief can apply throughout.

mikehzzzz
Posts:2
Joined:Wed Mar 09, 2022 8:52 am

Re: Summer Rental of Main Property

Postby mikehzzzz » Wed Apr 13, 2022 8:08 am

Thank you, that is very helpful.


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