House as location for filming TV show

sjoh0961

Hi all. 

Sorry if there’s a thread for this. I can’t find anything recent. 

We’ve got an offer of a reasonable amount of money to use our house. They’ll also put us up in rented accommodation for the period. They have indemnity insurance for anything third party. Their contract undertakes to return the house to the original condition or better. 

My main question is if anyone knows the tax implications and how I should/could deal with them. 

If anyone knows anything else about the process, would also appreciate advice. 

Thanks!

oldernonethewiser

It would be potentially subeject to tax just like any other income.

For me it would need to be a lot more than "a reasonable amount of money" before I considered it.

Keep_pedalling

As long as it is not a remake of the Young Ones sounds a cool thing to do. 😎

TimSynths

Keep_pedalling said:

As long as it is not a remake of the Young Ones sounds a cool thing to do. 😎

Ohh- have we got a video?

Keep_pedalling

TimSynths said:

Keep_pedalling said:

As long as it is not a remake of the Young Ones sounds a cool thing to do. 😎

Ohh- have we got a video?

https://www.youtube.com/watch?v=F4dt4ThrdQc

sjoh0961

oldernonethewiser said:

It would be potentially subeject to tax just like any other income.

For me it would need to be a lot more than "a reasonable amount of money" before I considered it.

Ok, thanks, but it’s not ‘any other income’, I think, which is why I asked. It’s a one-off payment of income from property (I think), which is definitely a different category. Or maybe it counts as rental income? And I’m trying to work out what I have to do about it. 

Plus, it’s 16k which, with or without tax, is quite a lot for us…

any ideas?

baser999

Certainly taxable - whether it’s treated as rental or trading is debatable. 

dave2319

Even though there's a very old thread about this which was also posted in this Boost Your Income area (but doesn't mention anything about tax) it might be best to ask here, on the board for tax queries.

lincroft1710

It would be a form of rental income as you would be letting out your home for commercial purposes.

subjecttocontract

Would you need to get the permission of......your mortgage lenders &/or insurers ?