Part Rent in exchange for Pet minding

T

TGLCE01

New Member
Messages
1
Wondering is it ok to a partial rent in exchange for pet minding duties. Saves me going to the Kennels daily and dog is not stressed either. Approx 50% off rent.
Do I declare the 100% rental income or just 50%. Same for RTB registration ?
Also its a converted garage at my home but separate unit, so sadly I dont think it complies for the rent a room relief?
Any advise greatly appreciated. Im new to renting. I want to be legal.
 
Loosely related to this. It's often warned that if you allow a child/relative to stay in your house for no cost, they have to be aware that they are in effect getting a gift equal to the amount that would otherwise be charged for rent. What if you let them stay for no rent or less than market rent and in parallel have a contract with them for caretaking/pet minding/maintenance/whatever... what would be implications as a result of this? It might help solve one problem. but then does it make you an employer and then what are your responsibilities, obviously they have to pay tax, etc? Is there any concept of 'barter' in the law? In general, how is barter seen by the law in terms of taxation in both directions?
 
Last edited:
patfert1 said:
Loosely related to this. It's often warned that if you allow a child/relative to stay in your house for no cost, they have to be aware that they are in effect getting a gift equal to the amount that would otherwise be charged for rent. What if you let them stay for no rent or less than market rent and in parallel have a contract with them for caretaking/pet minding/maintenance/whatever... what would be implications as a result of this? It might help solve one problem. but then does it make you an employer and then what are your responsibilities, obviously they have to pay tax, etc? Is there any concept of 'barter' in the law? In general, how is barter seen by the law in terms of taxation in both directions?
Click to expand...
Anything useful here?

Google Search

www.google.com
 
patfert1 said:
Loosely related to this. It's often warned that if you allow a child/relative to stay in your house for no cost, they have to be aware that they are in effect getting a gift equal to the amount that would otherwise be charged for rent. What if you let them stay for no rent or less than market rent and in parallel have a contract with them for caretaking/pet minding/maintenance/whatever... what would be implications as a result of this? It might help solve one problem. but then does it make you an employer and then what are your responsibilities, obviously they have to pay tax, etc? Is there any concept of 'barter' in the law? In general, how is barter seen by the law in terms of taxation in both directions?
Click to expand...
Revenue guidance is that an adult child (and their partner) staying in the parents home rent free is considered bed and board and is not considered a gift for the purposes of CAT.
 
patfert1 said:
Loosely related to this. It's often warned that if you allow a child/relative to stay in your house for no cost, they have to be aware that they are in effect getting a gift equal to the amount that would otherwise be charged for rent. What if you let them stay for no rent or less than market rent and in parallel have a contract with them for caretaking/pet minding/maintenance/whatever... what would be implications as a result of this? It might help solve one problem. but then does it make you an employer and then what are your responsibilities, obviously they have to pay tax, etc? Is there any concept of 'barter' in the law? In general, how is barter seen by the law in terms of taxation in both
Click to expand...
 
TGLCE01 said:
Wondering is it ok to a partial rent in exchange for pet minding duties. Saves me going to the Kennels daily and dog is not stressed either. Approx 50% off rent.
Do I declare the 100% rental income or just 50%. Same for RTB registration ?
Also its a converted garage at my home but separate unit, so sadly I dont think it complies for the rent a room relief?
Any advise greatly appreciated. Im new to renting. I want to be legal.
Click to expand...
Your rent doesn't change just because you are paying the tenant for a service. Though most people would probably just sayi half rent in exchange for 'free' dog minding. Having said that, it's all grand until it isn't.

This is clearly not rent a room as it's a separate unit. Are you in a RPZ area?
 
You must log in or register to reply here.
Back
Top