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Rental Income query
Hugh1983
Posts: 18 Forumite
this post has been updated and removed
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It is not necessary to complete a tax return - but HMRC need to be informed!
http://taxaid.org.uk/guides/information/an-introduction-to-income-tax-national-insurance-and-tax-credits/income-tax/it-is-your-responsibility-to-tell-hmrc-if-you-owe-income-tax
On the second point - if the property is let at a full market rent there is no reason why losses cannot be carried forward. However, his situation appears complicated ('he is going to pay her bills') and proving this might be problematic.There are 10 types of people in the world - those who understand binary and those who do not. :doh:0 -
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