property income – rent a room relief

This topic has 1 reply, 2 voices, and was last updated 15 years ago by Tax Tutor.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
May 23, 2011 at 6:12 pm #48569
susu123
Member
- Topics: 21
- Replies: 17
Barbara rented a room in her main residence and the monthly rent is £370. 09/10, her irrecoverable debt was a month’s rent. If Barbara wants to use rent a room relief, which calculation below is the right one:
1. £370*12 – £4250 = £190 — property income
2. £370*11 = 4070 < 4250 — exempt
May 24, 2011 at 9:15 am #82182
Tax Tutor
Member
- Topics: 2
- Replies: 3960
If the annual rent is below £4250 it is exempt. If it is above then calculate the property income as normal or if lower take rental income – £4250
Hope this helps
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.