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Where Taxpayers and Advisers Meet

Tax on 2nd property rented out but occasional use by owner

StevieT
Posts:9
Joined:Wed Aug 06, 2008 3:43 pm

Postby StevieT » Fri Sep 15, 2006 3:32 am

My wife and I jointly own a 2nd property bought March 2004 and financed by re-mortgaging our primary residence. I used the property regularly in 2004/5 when working away from home, there was no income from it. I started working away much less and since April 2005 (how convenient) I've rented it out to a work colleague at below market rate as I still used the property ie I slept in it maybe 10 times since April 2005. Can this be treated as a business-as-usual BTL/rented or are there tax implications as I have used the property to sleep in tax year 2005/6?

Simon Sweetman
Posts:1690
Joined:Wed Aug 06, 2008 3:11 pm

Postby Simon Sweetman » Fri Sep 15, 2006 4:52 am

There are no implications about income.


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