We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
do i still get the same FIT putting pv on a house i let out? and is it taxed
evomatt
Posts: 34 Forumite
As above if I was to put a 4kw system on a house i own and let out would i still get the same FIT tax free or would it be classed as a commercial system? If i can is there a limit to the ammount of FIT accounts i can have tax free?
0
Comments
-
Yes and no.
Unless you have more than 25 installs (I think, but others will able to confirm/deny).4kWp, SSE, SolarEdge P300 optimisers & SE3500 Inverter, in occasionally sunny Corby, Northants.
Now with added Sunsynk 5kw hybrid ecco inverter & 15kWh Fogstar batteries. Oh Octopus Energy too.0 -
Only your home qualifies for tax free, rentals is classed as income....its the reason I haven't put any on any of my houses.(that's according to my accountant)
You may well get away with it if you don't declare, but it would be an undeclared income and getting caught may well have some serious consequences such as a full accounts audit by the tax man(not nice) followed by a nice hefty fine.....risk and reward...your choice.2 kWp SEbE , 2kWp SSW & 2.5kWp NWbW.....in sunny North Derbyshire17.7kWh Givenergy battery added(for the power hungry kids)0 -
Only your home qualifies for tax free, rentals is classed as income....its the reason I haven't put any on any of my houses.(that's according to my accountant)
You may well get away with it if you don't declare, but it would be an undeclared income and getting caught may well have some serious consequences such as a full accounts audit by the tax man(not nice) followed by a nice hefty fine.....risk and reward...your choice.
But presumably you can offset the capital cost of buying the panels if the income from them is taxable?Remember the saying: if it looks too good to be true it almost certainly is.0 -
If you installed a system on a relatives (or even a friends) house, would it be possible for them to 'Gift' you an amount each year, similar to the FIT?4kWp (black/black) - Sofar Inverter - SSE(141°) - 30° pitch - North LincsInstalled June 2013 - PVGIS = 3400Sofar ME3000SP Inverter & 5 x Pylontech US2000B Plus & 3 x US2000C Batteries - 19.2kWh0
-
It should do...BUT...we all know peoples perceptions of panels and whether they enhance a properties price. Is it worth adding panels, then not making a mark up on the property because the new owner/agent doesn't add value from the panels. The panels would be "adding" a loss to the property and unless you've kept the house long enough to recoup the initial outlay then its not worth the hassle as you can't claim for the initial outlay until sellingBut presumably you can offset the capital cost of buying the panels if the income from them is taxable?2 kWp SEbE , 2kWp SSW & 2.5kWp NWbW.....in sunny North Derbyshire17.7kWh Givenergy battery added(for the power hungry kids)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards