Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 25 Jan 2024 09:36:22 GMT by
Hi. I am new to this so wanted to get some advice please. I am caring for my mum who is now pallative. I have had to get work done on my flat to enable me to rent it so I can move in with her. I have a full interest only mortgage which will be paid half of my rental income and the rest will be paid to the building/decorator comoany that provided the work. I will not have anything from the rent after. Will I need to complete any tax forms and would I risk loosing the carers allowance even though I have no income in my bank remaining after interest free mortgage and the monies to the comoany who provided the work to get it to rental standards. Any advice I would appreciate. Thank you
Posted Fri, 26 Jan 2024 12:16:14 GMT by HMRC Admin 20 Response
Hi Liz2034,
It is not clear what you mean by the decorator receiving half of your rental income.
I'd recommend you call the tax technicians at HMRC with some basic amounts of renatal income and expenses so we can consider whether you have any income from property first of all.
I am not able to answer your question about Carers Allowance but a call to HMRC may help you find out what is potentially a taxable income.
Income Tax: general enquiries
Thank you.

You must be signed in to post in this forum.