paying rental tax through PAYE

katejo

Is it worth doing the above? I currently keep to the RAR but want to increase my rent slightly above the RAR allowance due to increased cost of gas/electricity etc.
Not sure if it would be easier to pay through my tax code or just to fill in the shortened version of the tax form. I have nothing else to declare.

00ec25

how close to 40% taw bracket are you? HMRC may not give you the choice about a full blown SA return

payless

moving away from RAR means more complex records and depending on your allowable expenses might leave you with a taxable surplus that defeats the object of teh change,

katejo

payless wrote: »

moving away from RAR means more complex records and depending on your allowable expenses might leave you with a taxable surplus that defeats the object of teh change,

No I don't have to do that. I can tick the box on a tax form to say that I am still using RAR. I would just get taxed on the excess over the £4250 (but without any allowable deductions for expenses). It is definitely not worth me doing the complex records option. I have already worked that out.

katejo

00ec25 wrote: »

how close to 40% taw bracket are you? HMRC may not give you the choice about a full blown SA return

I am nowhere near the 40% tax bracket. My salary is under 30K