Can you claim tax back on rent paid for your child ? Parents who pay rent for their children may be entitled to claim the Rent Tax Credit. In addition to the conditions outlined in the Qualifying conditions for all claimants page, the conditions below must be satisfied. Use of property The property must be…
What can expenses can I deduct against income from my AIRBNB letting ? Typical expenses that can be deducted from an individual’s income in relation to shortterm lettings. Where income is deemed to be trading income, a deduction will be available for expenses which have been wholly and exclusively laid out for the purposes of…
What expenses and deductions are not allowed for foreign rental income? You cannot claim the following against your foreign rental income: pre-letting expenses post-letting expenses capital expenditure or improvement costs the cost of your own labour if you carry out repairs to the property. Travel costs unless the journey is undertaken wholly and exclusively for…
