Have we got ourselves in a mess already? Two bed flatshare - one name on contract

terryw

I really don't think that there are any tax implications despite some posts on this thread. Your flat-mate merely has to show the gross rent paid by you less expenses which will be half of the rent that they pay. Net profit therefore is nil- tax on nil is nil. Perhaps some passing poster with current knowledge of HMRC will confirm this or otherwise. I doubt if the HMRC would be interested in accounts anyway.......this is a flat-share.

I don't know why it can't be a joint tenancy, but the time to query this has long passed. It really should have been queried at the time. Ask your friend to contact them and see if they will issue a new joint tenancy if this is really important to you.

terryw

burnoutbabe wrote: »

https://www.gov.uk/renting-out-a-property/paying-tax

But in any event, the cost of rent payments onwards would be allowable against the rent charged so no tax due.

Thanks, but I was asking for a link to:

"you don't pay any tax if you don't own the property"

Kynthia

burnoutbabe wrote: »

https://www.gov.uk/renting-out-a-property/paying-tax

But in any event, the cost of rent payments onwards would be allowable against the rent charged so no tax due.

Yes but if you live in a property and take in a lodger, you are making 'income' which is taxable (unless it's within the rent a room allowance). Just because you use that rent to pay your own doesn't mean you don't pay tax on it. So in this scenario the property owner needs to declare the full rent for tax and the tenant needs to declare their 'lodgers' rent for tax. Strange.

OP I would definitely try to get your name added as a joint tenant.

JuicyJesus

helpmeimagraduate wrote: »

I didn't say anything about colour, please don't twist things. The comment was unfortunate as I admitted, but I don't think it's fair to force me to say it was out of order to feel more comfortable being granted a tenancy by an English letting agent. Were you ever 21 years old moving to a big city for the first time? It's a huge financial committment and I don't have rich parents to bail me out if it goes wrong. The reality is that I want things to go smoothly, I just didn't express it in the best way.

Keep digging. Thinking someone not English is going to make things go less smoothly, or feeling uncomfortable about the same, and for no other reason than where they do or do not come from, is racism. End of story. And it is out of order.

And stop saying "unfortunate". You said it. It wasn't an accident.

Werdnal

helpmeimagraduate wrote: »

UPDATE: I have looked at the contract between my friend and the LL. She is named as the only tenant. The tenancy is described as an Assured Shorthold Tenancy. There is also a covenant saying that the tenant agrees "not to sublet, assign, part with possession of this Property, nor to allow any other person live at the Property."

So me being there is going to be in breach of tenant's covenants?

.

How can an estate agent overlook things like this, and also the tax implications? Why can't it just be a joint tenancy for goodness sake.

She is not subletting - that would mean giving you sole rights to live there alone.

She is not assigning - that would mean transferring the property to you.

She is not parting with possession - she is still living there.

"Nor allow any other person to live at the property", may be an issue, but I would interpret this as not allowing anyone else to live there on their own. However, best get HER to clarify HER tenancy agreement with HER letting agent.

The tax implications are not likely to be an issue unless you are paying her mor than £4250/annum in rent, as this is the threshold for the rent-a-room scheme.

englishrose19

helpmeimagraduate wrote: »

I didn't say anything about colour, please don't twist things. The comment was unfortunate as I admitted, but I don't think it's fair to force me to say it was out of order to feel more comfortable being granted a tenancy by an English letting agent. Were you ever 21 years old moving to a big city for the first time? It's a huge financial committment and I don't have rich parents to bail me out if it goes wrong. The reality is that I want things to go smoothly, I just didn't express it in the best way.

Just ignore those people having the audacity to call you racist! I agree with your sentiment and some of older members of the board love to live their life vicariously, viciously picking on those younger than them/ less experienced in life in order to fulfil their superiority complex.

Don't dare mention you may have emailed a letting agent because they will jump on you instantly!

zzzLazyDaisy

helpmeimagraduate wrote: »

I may have said something unfortunate, but it was definitely not racist at all and you ought not to bandy that term around because it can be a very damaging allegation to make against somebody indeed.

Many people would view your comment as racist. But it is hardly an allegation that is likely to be damaging to your reputation, since you are posting under an anonymous user-name.

ging84

helpmeimagraduate wrote: »

How can an estate agent overlook things like this, and also the tax implications? Why can't it just be a joint tenancy for goodness sake.

How can a law graduate overlook things like this?

SnooksNJ

helpmeimagraduate wrote: »

I didn't say anything about colour, please don't twist things. The comment was unfortunate as I admitted, but I don't think it's fair to force me to say it was out of order to feel more comfortable being granted a tenancy by an English letting agent. Were you ever 21 years old moving to a big city for the first time? It's a huge financial committment and I don't have rich parents to bail me out if it goes wrong. The reality is that I want things to go smoothly, I just didn't express it in the best way.

If you believe I'm more likely to rip you off or I am unable to understand UK law because I was born in the US there is nothing I can write that will change your mind.
However, let me give you a piece of advice. In the big city saying foreigners are less trustworthy and you prefer only to deal with people who were born in England will get you in a lot of trouble. The truth is there are scammers of every nationality and you have to be knowledgeable enough to recognize it.

thesaint

helpmeimagraduate wrote: »

UPDATE: I have looked at the contract between my friend and the LL. She is named as the only tenant. The tenancy is described as an Assured Shorthold Tenancy. There is also a covenant saying that the tenant agrees "not to sublet, assign, part with possession of this Property, nor to allow any other person live at the Property."

So me being there is going to be in breach of tenant's covenants?

How can an estate agent overlook things like this, and also the tax implications? Why can't it just be a joint tenancy for goodness sake.

Your situation was explained fully within an hour and half a dozen posts on Landlordzone.

Your apparently "discriminatory/racist" remark was pointed out to you on landlordzone, but you still saw fit to include a similar thing in this thread, some three hours later.

I don't honestly know what else you want.