Rent a room out

alandaniel132

MikeJXE said:

Make sure you have an honest and trustworthy lodger like I didn't 

I began to think I was spending more money than usual over a period of a few weeks

I decided to count the money in my wallet every night and one night £40 was missing

I informed the police and they advised me to mark the money in a unique way and if more goes missing overnight to contact them immediately, while the lodger was still in bed preferably

I was missing £60 so I called them 

They came within a few minutes, found the money in bed with the lodger and made an arrest 

what happened at the end? Which area are you in?

JuzaMum

From hmrc

How it works

The tax exemption is automatic if you earn less than £7,500. This means you do not need to do anything.

If you earn more than this you must complete a tax return.

You can then opt into the scheme and claim your tax-free allowance. You do this on your tax return.

You can choose not to opt into the scheme and instead record your income and expenses on the property pages of your tax return.

user1977

elsien said:

JuzaMum said:

I believe you do need to 'declare' it. I did a tax return every year when I hosted foreign students. The tax office would confirm there was nothing to pay. 

I think the OP is asking how HMRC would find out if he didn’t declare. 

Think that’s beyond the scope of the “money-saving” advice we can offer here!

diystarter7

alandaniel132 said:

I plan to rent out one of my bedrooms via spareroom.

Do I need to declare my to the tax office for my rental?

If I did not disclose it, no one will know.

Hi OP

It depends if you need to tell or not as per a couple of posts here and what income/etc you are on

If you asking how HMRC may find out, I guess if someone reports you or you are on benefits and the money is going into bank accounts, but if its cash in hand, I guess they can only find out if someone reports you

Below I have found you a link, easy to follow and read and very helpful.  Follow the guidance etc and you should be ok

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


Thanks

propertyrental

Post 10: Lodgers: advice & links for landlords & lodgers

scoey8

alandaniel132 said:

MikeJXE said:

Make sure you have an honest and trustworthy lodger like I didn't 

I began to think I was spending more money than usual over a period of a few weeks

I decided to count the money in my wallet every night and one night £40 was missing

I informed the police and they advised me to mark the money in a unique way and if more goes missing overnight to contact them immediately, while the lodger was still in bed preferably

I was missing £60 so I called them 

They came within a few minutes, found the money in bed with the lodger and made an arrest 

what happened at the end? Which area are you in?

Hi Alan, take it you dont want to split the 125 now?