Hi,
A family member owns a house, at different stages over the years he rented a room under the rent a room scheme for a time, he then moved out of the property and let the house fully, he moved back into the property for a time in between letting and is now fully owner occupied and will be for the long term. They preparing rental tax returns for the previous 4 years.
I have a few question regarding this situation.
They are preparing to contact revenue with relevant times the house was not owner occupied and want to repay TRS they were paid wrongfully. Can this be done by simply sending a letter with appropriate dates and get revenue to calculate TRS repayment figure?
Before letting out the house fully and moving out they rented their home under the rent a room scheme and purchased furniture etc for renters and themselves to use in the house, can this furniture written off against in tax returns for wear and tear? or is this furniture classed as pre letting buying of furniture?
In between lettings they moved back into the property for 6 months (will be claiming TRS or these 6months). During this time they bought/replaced furniture before leasing it out again. can this furniture bought between letting be written off for wear and tear even though it was bought when owner occupied?
I hope this makes sense.. Thanks in advance
A family member owns a house, at different stages over the years he rented a room under the rent a room scheme for a time, he then moved out of the property and let the house fully, he moved back into the property for a time in between letting and is now fully owner occupied and will be for the long term. They preparing rental tax returns for the previous 4 years.
I have a few question regarding this situation.
They are preparing to contact revenue with relevant times the house was not owner occupied and want to repay TRS they were paid wrongfully. Can this be done by simply sending a letter with appropriate dates and get revenue to calculate TRS repayment figure?
Before letting out the house fully and moving out they rented their home under the rent a room scheme and purchased furniture etc for renters and themselves to use in the house, can this furniture written off against in tax returns for wear and tear? or is this furniture classed as pre letting buying of furniture?
In between lettings they moved back into the property for 6 months (will be claiming TRS or these 6months). During this time they bought/replaced furniture before leasing it out again. can this furniture bought between letting be written off for wear and tear even though it was bought when owner occupied?
I hope this makes sense.. Thanks in advance