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Rent A Room Scheme switching on and off it
the-mango
Posts: 818 Forumite
The situation is that because this year I am only starting having lodgers in September it would be beneficial for me to have the RAR scheme as my rental income will only be marginally higher than the allowance. In future years rental will be considerably higher and therefore with expenses it will be more tax efficient to not use RAR. Is it possible to switch on and off it tax year to tax year?
Thanks
Thanks
0
Comments
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I'm surprised you keep asking individual questions about the RAR when we have given you the links to the explanations in one of your many threads sometime ago - switching on/off is clearly explained on the HMRC website or do you not believe you should find basic info on your own?0
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Sorry for being slow I should have waited until this morning ad I was doing my taxes last night but was clearly too tired and missed things as I did look through several government pages but obviously didn't read them properly. Sorry again. Thanks for your help0
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