Accountants unimpressed by Rent A Room tax changes

Posted by On August 02, 2018 0 Comment
A trade body representing accountants has shone a light on new rules from April limiting Rent A Room tax relief (on the first £7,500 of income) to landlords who have actually lived concurrently in the same property with the tenant. And they don’t like what they see. Forcing accidental landlords to keep records of where they are and when will be laborious and off-putting, and pushing many of them through the self-assessment will be more costly for the HMRC than it’s worth. Furthermore, it’s unclear whether landlords will be expected to provide proof of residency, or whether this will merely be a trust system. More here.