Most tax-efficient option: living in rented or owned property in London? Most tax-efficient option: living in rented or owned property in London? - Page 3
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  1. #21

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    Quote Originally Posted by SueEllen View Post
    From the posts s/he has:
    1. Home in Surrey
    2. Flat in London which s/he owned and is rented out to tenants who s/he can't kick out until the fixed term is up.
    3. Flat in London s/he rents to live in during the week whilst on this contract. (From previous thread s/he has difficulty travelling.)
    Thanks SueEllen

    So basically then the OP is claiming travel and subsistence for the journey from Surrey to London, which he/she is not making; owns a flat in London which he/she is renting out for the Olympics, so presumably not on a long term rental agreement, and making a good profit on the arrangement and then also renting a flat the cost of which is being claimed as an expense. Must be working somewhere in Westminster methinks
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  2. #22

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    Quote Originally Posted by LisaContractorUmbrella View Post
    Thanks SueEllen

    So basically then the OP is claiming travel and subsistence for the journey from Surrey to London, which he/she is not making; owns a flat in London which he/she is renting out for the Olympics, so presumably not on a long term rental agreement, and making a good profit on the arrangement and then also renting a flat the cost of which is being claimed as an expense. Must be working somewhere in Westminster methinks
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  3. #23

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    Quote Originally Posted by LisaContractorUmbrella View Post
    Quote Originally Posted by SueEllen View Post
    From the posts s/he has:
    1. Home in Surrey
    2. Flat in London which s/he owned and is rented out to tenants who s/he can't kick out until the fixed term is up.
    3. Flat in London s/he rents to live in during the week whilst on this contract. (From previous thread s/he has difficulty travelling.)
    Thanks SueEllen

    So basically then the OP is claiming travel and subsistence for the journey from Surrey to London, which he/she is not making; owns a flat in London which he/she is renting out for the Olympics, so presumably not on a long term rental agreement, and making a good profit on the arrangement and then also renting a flat the cost of which is being claimed as an expense. Must be working somewhere in Westminster methinks
    LOL!

    However, I should correct you on the fact that I am indeed making the travel that I am claiming between Surrey and London every Sunday and Friday evening.

    I should also add to that list that I am also renting out two rooms in my Surrey property on a lodger basis, but I have done this since I purchased the property in 2003 and spent five years living at the property continously like this before I got a job in London in 2008. I believe renting rooms out in a first home (on a resident landlord basis) is permitted and not taxable in any case.

  4. #24

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    Quote Originally Posted by LisaContractorUmbrella View Post
    Thanks SueEllen

    So basically then the OP is claiming travel and subsistence for the journey from Surrey to London, which he/she is not making;
    Claiming travel on Monday from Surrey to London and on Friday from London to Surrey plus subsistence during the week.

    They stated they can't commute daily because it takes a lot of time. They haven't stated they can't commute daily because of a medical problem or disability.

    Quote Originally Posted by LisaContractorUmbrella View Post
    owns a flat in London which he/she is renting out for the Olympics, so presumably not on a long term rental agreement,
    The flat s/he owns in London was rented out before the current London contract was got.

    However s/he needs to give tenants notice i.e. Section 21 so when they go can take over the flat immediately when they move out.

    Quote Originally Posted by LisaContractorUmbrella View Post
    and making a good profit on the arrangement and then also renting a flat the cost of which is being claimed as an expense. Must be working somewhere in Westminster methinks
    You've read the furniture thread(s) I take it.
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  5. #25

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    Quote Originally Posted by Neo View Post
    LOL!

    However, I should correct you on the fact that I am indeed making the travel that I am claiming between Surrey and London every Sunday and Friday evening.

    I should also add to that list that I am also renting out two rooms in my Surrey property on a lodger basis, but I have done this since I purchased the property in 2003 and spent five years living at the property continously like this before I got a job in London in 2008. I believe renting rooms out in a first home (on a resident landlord basis) is permitted and not taxable in any case.
    Oh to be a fly on the wall when you explain all this to one of her Majesty's tax inspectors
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  6. #26

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    Quote Originally Posted by SueEllen View Post
    Claiming travel on Monday from Surrey to London and on Friday from London to Surrey plus subsistence during the week.

    They stated they can't commute daily because it takes a lot of time. They haven't stated they can't commute daily because of a medical problem or disability.


    The flat s/he owns in London was rented out before the current London contract was got.

    However s/he needs to give tenants notice i.e. Section 21 so when they go can take over the flat immediately when they move out.



    You've read the furniture thread(s) I take it.
    Well I suppose it depends where in Surrey but that would be a case of 'won't' and not 'can't' I would have thought.

    I bow down to your knowledge on letting agreements

    Yes I have read the other thread - beginning to suspect sockyism
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  7. #27

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    Quote Originally Posted by Neo View Post
    LOL!

    However, I should correct you on the fact that I am indeed making the travel that I am claiming between Surrey and London every Sunday and Friday evening.

    I should also add to that list that I am also renting out two rooms in my Surrey property on a lodger basis, but I have done this since I purchased the property in 2003 and spent five years living at the property continously like this before I got a job in London in 2008. I believe renting rooms out in a first home (on a resident landlord basis) is permitted and not taxable in any case.
    Words fail me. Your grasp on basic tax rules is simply awful. Heard of rent a room scheme and it's limitations? You know whatever rent you bring in you have to declare on your SA?

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  8. #28

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    Quote Originally Posted by northernladuk View Post
    WHS - the rent a room scheme isn't simply a case of no tax being due, it depends on the rent received. If you've missed it from prior tax returns then I'd recommend letting your accountant know asap so they can review and advise on a course of action.

  9. #29

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    LisaContractorUmbrella, what's the difference between 'won't' and 'can't' when it comes to commutability? I thought everywhere in the world is commutable from everywhere else in the world. All you need is your own private supersonic jet! So, I won't hear none of this 'can't' from you - that just sounds like you're lazy!

    And what's 'sockyism'? Stop making up words. I should call you Tolkien.

    northernladuk, take a breather and relax with a Cadbury's Caramel. Your grasp on basic English is simply awful. At least I'm on here trying to get answers. You should go to an English grammar forum.

    Seems that SueEllen is the only one that speaks sense round here and understands the situation regarding why I'm renting in London (owned property already rented before London contract got). Thanks for explaining to LisaContractorUmbrella.

  10. #30

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    Quote Originally Posted by Neo View Post
    LisaContractorUmbrella, what's the difference between 'won't' and 'can't' when it comes to commutability? I thought everywhere in the world is commutable from everywhere else in the world. All you need is your own private supersonic jet! So, I won't hear none of this 'can't' from you - that just sounds like you're lazy!

    And what's 'sockyism'? Stop making up words. I should call you Tolkien.

    northernladuk, take a breather and relax with a Cadbury's Caramel. Your grasp on basic English is simply awful. At least I'm on here trying to get answers. You should go to an English grammar forum.

    Seems that SueEllen is the only one that speaks sense round here and understands the situation regarding why I'm renting in London (owned property already rented before London contract got). Thanks for explaining to LisaContractorUmbrella.
    Well you will ask questions on a free forum. You ought to be thankful people have taken the time to respond instead of being so rude to them, particularly when you have so little understanding of your situation. I am glad your tax affairs are running so smoothly all you have to pick on is grammar.
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