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TonyTax
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If I FHL weeks within last year of ownership before

Resolved Question:

If I FHL for 12 weeks within last year of ownership before selling a property which has been owned & my main residence for 33months, but do not qualify for FHL allowance due to short letting period, how do I claim for extra expenses eg. insurance, cleaner wear gas electricity wear& tear etc?
Submitted: 12 months ago.
Category: Tax
Expert:  TonyTax replied 12 months ago.
Hi. You can only claim expenses against rental income if the property was let or was available to let after having been let. If the letting didn't qualify as a FHL, then you disclose the income as regular rental income and set the expenses against that. I hope this helps but let me know if you have any further questions.
Customer: replied 12 months ago.
Where can I find what expenses can claim against very short term rental income ? If the total of rental income for the year is under £2500,after allowable expenses, do i haveto declare it on tax return?
Expert:  TonyTax replied 12 months ago.
Look here. If you have had a tax return, you need to disclose all your income. There is no £2,500 exemption on rental income.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15758
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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