Cottonseed Posted March 24, 2012 Report Share Posted March 24, 2012 Mikky PM me if you have any questions cheers Thanks, but it's all my fault for not reading £3 a week! Sorry. I've had experience of the Capital gain thing on offices. Fortunately it had tapered off with the time we'd been there and we used our allowances to cover it. Quote Link to comment Share on other sites More sharing options...
mark@mbb Posted March 24, 2012 Report Share Posted March 24, 2012 I was always told if you claim for a room in the house they can always take a percentage of the sale price off the house you could rent him a room i think you are allowed to earn £5k tax free but not 100% sure Mark Quote Link to comment Share on other sites More sharing options...
Vince Green Posted March 24, 2012 Report Share Posted March 24, 2012 You don't say what your son is doing, that could be massively significant. Presumably he only pays you rent so a percentage of household costs would not be appropriate. Accountant is the way forward. If he tells the Revenue XYZ they will believe him. If you tell them the same they have no reason to. He is qualified and has legal ties. The one thing you really don't want to get into is disputes. You will never win. That is the reality in this game. My accountant keeps me safe. Thats why I pay him Quote Link to comment Share on other sites More sharing options...
mikky Posted March 25, 2012 Author Report Share Posted March 25, 2012 You don't say what your son is doing, that could be massively significant. Presumably he only pays you rent so a percentage of household costs would not be appropriate. Accountant is the way forward. If he tells the Revenue XYZ they will believe him. If you tell them the same they have no reason to. He is qualified and has legal ties. The one thing you really don't want to get into is disputes. You will never win. That is the reality in this game. My accountant keeps me safe. Thats why I pay him he teaches martial arts at several different locations in the greater manchester area ( self employed ) and works at the local leisure centre part time (paye) mikky Quote Link to comment Share on other sites More sharing options...
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