adauketano2020
Joined: 4/4/2024
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Renting parking space - reporting and expenses
Hi! I'm living in Scotland and I'm looking to rent one of the two parking spaces allocated to me in our building's parking area. I do not currently do any self-assessment as I (currently) only receive income from my employer. I assume that: 1. If the income derived from renting my parking space, minus expenses, is below £1000, I do not need to do anything. 2. If the income minos expenses is between £1000-2500, I'd need to talk to HMRC I have a question, though: can I claim as expenses the fees the website I'm using to rent out the space charges me? Thanks