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What you say in para 1 is correct. As far as I know the flat is an FHL we pay heat light - contents insurance and it is furnished and serviced by us. I have an online booking system. Buildings insurance on the house we own. The house is owned by us the flat is attached to our rented property and sublet with the consent of the owner.
My gross pay 2013/14 was £17994.82
Tax deducted on my pay £1424.20
yes the flat is attached to the property we live in ourselves and is self contained - separate entrance
Hi again.You have underpaid tax on your salary by £286.60 (£17,994 - £9,440 x 20%).You should only disclose your share of the letting income and expenses in your tax return.You need to check HS253 to see if the flat you let qualified as a furnished holiday let in 2013/14. The helpsheet sets out the criteria. If it does, you can claim capital allowances for the cost of furniture, furnishings and white goods such as fridge freezers, ovens etc..If it doesn't qualify as a furnished holiday let and this applies to the house you let out too, you cannot claim capital allowances for the furniture and white goods but if it is fully furnished, you can claim a wear and tear allowance which you can read about here, here, and here.You can use the property income pages here and the notes here and here as a guide to the types of expenses you can claim against the income which will reduce the taxable profit if you incurred any such expenses.I hope this helps but let me know if you have any further questions.
Thanks very much - I may need to come back to you but what you say is really useful
How do I get back to you if I logout or the page goes down ?
Just looking back on the thread of this conversation....It is now over four years ago since I bought the furniture for our holiday let and I have not yet claimed capital allowances, and it now has four years of wear and tear. Can I claim for the original cost - as new ?
Happy new Year