Motorhome

I'm planning to buy a motorhome and rent it for most of the year (as an individual not a business, it's going to be my additional income). What tax will I be paying on that income and in what section on self assessment shoud I include it. Thanks

Hi,

The income should be declared as UK rental income. The amount of tax due depends on the profit and your overall income for the year.

Thank you.

Thank you so much for your reply. Should that be declared as UK "property income" or "furnished holiday income"? Not sure... Would appreciate your advise on that. Many thanks.

Hi AB,
Please refer to:
PIM4110 - Furnished holiday lettings: qualifying tests for 2011-12 onwards (IT and CT)
If it meets these conditions, it is a furnished holiday let, if not, it is normal income from property.
Thank you.