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Where Taxpayers and Advisers Meet

Peppercorn Rent

les35
Posts:639
Joined:Wed Aug 06, 2008 3:09 pm

Postby les35 » Wed Oct 29, 2008 4:29 pm

I heard that HMRC are being very strict on the level at which a peppercorn rent is to be treated as non-business. They have insisted, in correspondence that a peppercorn rent must not exceed £1.
I welcome your comments!

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Peppercorn Rent

Postby pawncob » Fri Oct 31, 2008 7:32 pm

It should , literally, be a peppercorn. Anything above that in value is a taxable income.
Where would YOU set the limit?
With a pinch of salt take what I say, but don't exceed your RDA


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