How to Declare Over Rent a Room Limit

ben1985

Hello,

I have a lodger within my flat and have agreed a price of £90 Per week

This is £4680 a year which is £430 over the £4250 rent a room limit.

I want to pay the tax on the excess above the threshold.

This would be £86 a year (at 20% tax)

How do I go about declearing this and paying it so I don't have HMRC on my back

Regards

BW

BitterAndTwisted

Contact your tax office and ask them to send you a tax-return. Depends on whether your lodger has been paying you rent since before or after the current tax-year started on April 5th (I think) which will affect the year you're declaring income for.

ben1985

Hi, to save time can I do this online. I've heard that you can so do you think I should give that a try first?

toby3000

You can do your tax return online, but you will need to have informed the tax office that you have income to decalre. You can't register for Self Assessment without a Unique Taxpayer Reference number, which the tax office can send out.