Nice people thread part 5 - nicely does it

chewmylegoff

CKhalvashi wrote: »

We’ve rented one of our rooms for 3 weeks during the Olympics at £750/wk, and it’s going to cost us £150 for bed rental for this time. In our case, we’ve got a Russian family who are bringing a Russian-plated car :eek:

On a serious note, that’s £2250 that’s tax free, who can moan at that?!

CK

Why is it tax free?

PasturesNew

chewmylegoff wrote: »

Why is it tax free?

Because they are renting one room in their family home, so will claim it as rent-a-room income.

lostinrates

I am cross hearing about all this tax free. On top of stupid paye we have to pay more tis year. Our accountant found this out. He seems to work i. Reverse, instead of saving money costing is some. Seriously unimpressed. Boooo.

chewmylegoff

zagubov wrote: »

I know of at least one case where a house owned jointly and rental income came out of 1 tax return

I don't doubt it, and I am not a technical expert on property taxation, but the default position is jointly owned = taxation split in accordance with ownership %.

I expect you can structure it somehow so that one party earns all the income from a taxation point of view (partnership or trust deed etc) but I doubt it would be cost effective for 3 weeks!

michaels

That is mine but the details SilverC suggested on tripadvisOr were different - not that I can fidn it on tripadvisor anyway myself.

PS whilst it is technically possible to fit two cars as wide as a multipla in the garage I don't think it is a double garage.

GDB2222 wrote: »

It's definitely yours. Picture of two Fiat Multiplas in the garage.

chewmylegoff

PasturesNew wrote: »

Because they are renting one room in their family home, so will claim it as rent-a-room income.

Oh yeah, duh!

silvercar

michaels wrote: »

May be if I take up PNs suggestion of a tent in the garden it would be rent-a-room compatible?!

Silvercar that isn't mine you have seen.

CK do you know any Russians (or better Georgians of course) who would fancy renting ours?

So far we have had an enquiry from what sounds like 2 French families but only one week. I wish the site offered some tracking stats

That explains everything. Search for your town and 5 come up within 20 miles, one is in Bedfordshire, one in Bucks, one is a holiday village, one has a tower dating back to 1860 and one is recently refurbed standard home in Herts but no garage.

So if none of them are yours, how do people find it?

chewmylegoff

lostinrates wrote: »

I am cross hearing about all this tax free. On top of stupid paye we have to pay more tis year. Our accountant found this out. He seems to work i. Reverse, instead of saving money costing is some. Seriously unimpressed. Boooo.

Tax = boo. I screwed something up and marginal rate will now almost certainly be 60% for this year. Brill.

GDB2222

michaels wrote: »

That is mine but the details SilverC suggested on tripadvisOr were different - not that I can fidn it on tripadvisor anyway myself.

PS whilst it is technically possible to fit two cars as wide as a multipla in the garage I don't think it is a double garage.

How in heaven's name can holiday lettings have decided that St Alban's is a ski resort, though?

CKhalvashi

chewmylegoff wrote: »

Tax = boo. I screwed something up and marginal rate will now almost certainly be 60% for this year. Brill.

My tax is something like 46.6% for last year, so I can’t really begrudge myself £2250 in tax-free cash after paying the tax man £150k-ish over the course of the year!