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!
Board tax??
ST225
Posts: 1 Newbie
My oldest has finished his A levels, left college and has a job, if he starts to pay board by standing order does it count as income for us, and would it be taxable?
Thanks.
Thanks.
0
Comments
-
Rent a room allowance is circa £7,250 p.a anyway.
Check allowance for under 24s paying parents. Don't claim single person's CT allowance.If you've have not made a mistake, you've made nothing1 -
No. It's exempt as it is not an arrangement that is related to trade, it is an arrangement between family members. Even if you were doing it as a commercial arrangement, under the Rent-a-room scheme, you can earn upto £7,500 a year from renting rooms in your home without needing to pay tax or complete a tax return.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards