Su Chat
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RE: Share of expenses for live in landlords
Hi, please answer the question asked. I have clearly said I don't want to use and not claim the £7500 rent a room allowance, and instead want to use method B. I don't understand why you are still informing me about method A. Please read the question again. I have 2 flatmates who pay rent to me (live in landlord) and I pay all the bills for the flat. E.g. the bills are £100, should £33.3 (1/3rd) be considered as my private expense, and therefore not deductable as expenses for tax purposes, and remaining £66.6 should be considered renting related expense and deductable expense for tax purposes? Im am enquiring regarding the ratio in which I can separate the expenses+please kindly don't get confused and refer me to something that I haven't asked about). -
RE: Share of expenses for live in landlords
Hi, that's really strange advice. So my personal expenses will be considered "expenses" for renting, where as share of expenses spent on "lodgers" are not expenses? Surely, it's the other way around? My personal expenses are not expenses, whereas share of expenses of lodgerd that I spent, are deductible? Please confirm. -
Share of expenses for live in landlords
I'm a live in landlord with 2 housemates (2 separate agreements). I want to calculate my tax liability as receipts less expenses method going forward (and not claim the £7500 rent a room allowance). How should expenses be calculated - e.g. council tax, broadband, any repair costs such roof repair - can I claim 2/3rd of them as expenses, as there are 3 people in flat including me?