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? -
Live in landlord moving out
I'm a live in landlord, doing tax returns using the 7.5k allowance until now. I plan to move out to live with my partner permanently and my housemates will continue to stay in flat. I understand I'll not get 7.5k allowance once I move out. I have 3 questions: 1. I can move around Apr 6 to keep calculations easier for the year. If I fail to move by Apr 6, how is tax calculated? 2. What do I need to send to HMRC to show that I've changed address? 2. Assuming Im no longer living in rented flat from 6th Apr, should any repair expenses incurred after that date on that flat such as roof repair expenses, service charges, be treated as expenses deductible against revenue?