Any accountants on here? Quick boring tax question

[Blumers Bloomers]

Hi all

Recently bought a chalet up in The Lakes and have sub let it out occasionally via the Holiday Management company. This has generated income for us …which essentially will be used to offset our annual pitch fees (although we will still be short and have to find the delta)

I know nothing about taxes having worked on a PAYE basis all my life …..am I going to get a tax bill from HMRC ?!!

Thanks and sorry to be so dull

 

[andyhinch]

Hi all

Recently bought a chalet up in The Lakes and have sub let it out occasionally via the Holiday Management company. This has generated income for us …which essentially will be used to offset our annual pitch fees (although we will still be short and have to find the delta)

I know nothing about taxes having worked on a PAYE basis all my life …..am I going to get a tax bill from HMRC ?!!

Thanks and sorry to be so dull

@Prestwich_Blue is probably a good starting point.

 

[dadnlad]

you need to post it on RAWK their all finacial experts on there

 

[cpa]

I have a flat that I let out and always have to do a self-assessment tax return every year because of this I think
Not much you can claim for now which is why a lot of landlords are selling up
Think we can offset our service charge though, which maybe similar to your pitch fees

 

[Mr Kobayashi]

If you aren't in profit doesn’t seem like you will be due to pay any tax on it directly but you'll have to declare it as income to HMRC.

Best to pay for some advice from a solicitor or an accountant.

 

[Mad Eyed Screamer]

you need to post it on RAWK their all finacial experts on there

RAWK admin should go on Mastermind.

Your specialised subject?
"Der corrupt financial details of Manchester City 2008 - 2022.

Magnus: your time starts now...... Manchester City renamed their stadium after being sponsored by which airline?

RAWK: well dats the thing, was it der money from der airline or was it money from der Sheikh? Or was it money from der state? Either way der money was dirty oil money and its not fair, how can we compete with dat?? Day have cheated and lied to UEFA who need to take a stand. It's not a level playing field. We can't afford to buy at der prices dey pay and der wages dey give out......

Beep beep beep
Magnus: you've started but I don't think you'll ever finish...... the answer is Etihad.
RAWK you have a total of no points

RAWK: yeah but how can we.....
Magnus: fuck off......

 

[Mad Eyed Screamer]

If you aren't in profit doesn’t seem like you will be due to pay any tax on it directly but you'll have to declare it as income to HMRC.

Best to pay for some advice from a solicitor or an accountant.

Why? It's free on here and will be 100% correct ;)

 

[andyhinch]

Why? It's free on here and will be 100% correct ;)

No one’s advised her to burn it down and claim on the insurance yet which is disappointing ;-)

 

[GornikDaze]

RAWK admin should go on Mastermind.

Your specialised subject?
"The corrupt financial details of Manchester City 2008 - 2022.

Magnus: your time starts now...... Manchester City renamed their stadium after being sponsored by which airline?

RAWK: well dats the thing, was it the money from the airline or was it money from the Sheikh? Or was it money from de state? Either way de money was dirty oil money and its not fair, how can we compete with dat?? They have cheated and lied to UEFA who need to take a stand. It's not a level playing field. We can't afford to buy at the prices dey pay and the wages dey give out......

Beep beep beep
Magnus: you've started but I don't think you'll ever finish...... the answer is Etihad.
RAWK you have a total of no points

RAWK: yeah but how can we.....
Magnus: fuck off......

You old git… it’s not been Magnus for about 30 years! Clive ‘the Blue’ Myrie is the current host which would make it much better ;)

Ps - thanks for making me read that in a faux scouse accent!

 

[Mad Eyed Screamer]

You old git… it’s not been Magnus for about 30 years! Clive ‘the Blue’ Myrie is the current host which would make it much better ;)

Ps - thanks for making me read that in a faux scouse accent!

Leave me alone. Next you'll be telling.me John Noakes is no longer.on Blue Peter!