UK Landlord Forum / Life

Forgive me if this question is not quite right for this forum, but I thought I would try because you regulars are pretty damned good.

First of all I do NOT want to mess with the tax man, I want to pay what is due.  But not a penny more.

My son has recently finished Uni and is coming back home for a few months whilst he saves up to go and do a Masters.  He has a job (minimum wage etc) and would like to contribute a couple of hundred quid a month to the household coffers towards food/lodgings/etc.

I have searched the HMRC web site, but cannot find a definitive answer to this.

Do I have to declare that money as taxable income ?

Thanks!

No.  You are allowed to take a lodger for up to around the £4K mark without declaring it.  Google will give you the exact amount.

Quote from: Riptide on May 25, 2015, 03:17:52 PM
No.  You are allowed to take a lodger for up to around the £4K mark without declaring it.  Google will give you the exact amount.

Thanks Riptide. Nice one.

More than that.

No, Never.

You are getting confused, you are not running a business with an intention of making a profit, therefore even if he gave you £10,000 you would never be liable to any sort of tax.

People often forget that a business is only a business if you set it up to make a profit.... Always, always always. If you make a loss, no tax is due, why would anyone ever be bothered at the revenue about that.

Thanks Boboff. 

That is what I had assumed at one point.  However, I can't find any official reference which states this which would be a nice comfort blanket should someone come knocking.

Dear All,

I work for a company................

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