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Posted Sun, 05 Jan 2025 17:48:54 GMT by BH
What is the most appropriate way to cater for any tax due under such an arrangement i.e. 1) As total annual rental payments are below the property income allowance of £1,000, can this be used and therefore no need to declare, or 2) Declare with expenses being used to offset? Thank you
Posted Mon, 20 Jan 2025 13:39:42 GMT by HMRC Admin 8 Response
Hi,
As the income is from a connected person, you are not entitled to the property trading allowance:
PIM4454
Thankyou.

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