Paying board to parents

Annabee

I am thinking that perhaps this is some kind of joke? Of course there won't be any tax problems, for you or your parents.

You are just paying a small amount towards the household expenses. A very tiny amount actually, £100 a week would be more realistic, not a month.

But it seems from your tone that perhaps you resent paying the monthly £100? And that is what prompted your query? (I apologise if I got that wrong). If so, you are seriously out of order.

I am all for parents helping their offspring financially if they can afford to do so, but your attitude is so wrong.

tori.k

lookstraightahead wrote: »

I suppose it depends where your kids work, how old they are etc. I can't imagine for one minute my daughter coming back to live at home after uni, not for long anyway. I would rather her rent while she sorts out her life rather than being tied down to our sleepy old village (even though it's commuterable to London). Why can't young adults house share?

Our son actually earns a good wage for Cornwall, Once you get past two people in a household the running cost don't rise dramatically if I really looked into it I actually probably marginally profit.

takman

Annabee wrote: »

I am thinking that perhaps this is some kind of joke? Of course there won't be any tax problems, for you or your parents.

You are just paying a small amount towards the household expenses. A very tiny amount actually, £100 a week would be more realistic, not a month.

But it seems from your tone that perhaps you resent paying the monthly £100? And that is what prompted your query? (I apologise if I got that wrong). If so, you are seriously out of order.

I am all for parents helping their offspring financially if they can afford to do so, but your attitude is so wrong.

Let's say that there are 3 adults living in the house (Parents and Child) and a fair split would be 1/3rd of household bills each. So £100 per week per adult is £1300 per calendar month!!.

So you saying your bills are £1300 a month? That is ridiculous and way over the top.

lookstraightahead

takman wrote: »

Let's say that there are 3 adults living in the house (Parents and Child) and a fair split would be 1/3rd of household bills each. So £100 per week per adult is £1300 per calendar month!!.

So you saying your bills are £1300 a month? That is ridiculous and way over the top.

I suppose it depends whether you include a mortgage or not. Maybe some people think it's unfair for their kids to contribute to a mortgage, but if we are thinking of long term financial gain for kids, it means parents pay their mortgage off quicker and will therefore free them up to babysit the grandchildren etc ...

I'm all for children making their own way to be honest I can't get my head around having my children in my care well into adulthood. I would support in any way I can but they have to fly the nest.

AJS321

Pixie5740 wrote: »

Tee hee.

You are not responsible for someone else's tax liability not that your parents need to pay tax on your £100 a month contribution to the household because it doesn't take them anywhere near the Rent a Room limit.

Thank you. What’s the rent a room limit of you don’t mind me asking?

Dazed_and_confused

https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme

AJS321

Dazed_and_confused wrote: »

https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme

Ok, never heard of that before. Does that apply even if we don’t have a formal written tenancy agreement?

Money_maker

AJS321 wrote: »

Thank you. What’s the rent a room limit of you don’t mind me asking?

I'm guessing your parents want to raise the amount you pay?

Silvertabby

!!!8220; Thank you. What!!!8217;s the rent a room limit of you don!!!8217;t mind me asking?
Originally posted by AJS321

It's £7,500 a year - so your parents could increase your 'board' to £143.74 per week (£7,499 / 52.17) and still be well within the legal limit.

AJS321

Silvertabby wrote: »

!!!8220; Thank you. What!!!8217;s the rent a room limit of you don!!!8217;t mind me asking?
Originally posted by AJS321

It's £7,500 a year - so your parents could increase your 'board' to £143.74 per week (£7,499 / 52.17) and still be well within the legal limit.

Ok, so imagine they don’t need to declare anything to the taxman. Thanks for your help.