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Posted Sun, 05 May 2024 15:00:10 GMT by taxenq123
I've got a written permission from the lawful owner to let out the flat which I do not own myself. I collect all rental income under my name, the lawful owner does not benefit any proceedings at all. I'm wondering if I can use the £1k property allowance or is it available only to landlords who own their property?
Posted Mon, 13 May 2024 14:46:37 GMT by HMRC Admin 5 Response
Hi

The owner would need to provide a decaration of trust showing that you are the beneficial owner of any income received. Once done you can claim the property trading allowance if no other expenses are claimed.

Thank you

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