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davidsabishop
Cleanitup Sr. Member
Posts:
143
Renting work
«
on:
March 17, 2009, 08:14:04 pm »
Anyone do this and do you just include rental income on your tax return as earnings?
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sparklebright
Guest
Re: Renting work
«
Reply #1 on:
March 17, 2009, 08:18:52 pm »
I have some work I rent out.
My accountant told me he would show it as a royalty as opposed to a rent, I don't know if that's cos I'm a Limited Co.
Maybe it's because if it's a rental, the whole lot should be on your turnover, whereas a royalty, you're only taxed on what you get. Not sure
I'd speak to my bean counter (Acct) if I were you.
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davidsabishop
Cleanitup Sr. Member
Posts:
143
Re: Renting work
«
Reply #2 on:
March 18, 2009, 04:39:27 pm »
Thanks for that
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