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davidsabishop

  • 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?

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.

davidsabishop

  • Posts: 143
Re: Renting work
« Reply #2 on: March 18, 2009, 04:39:27 pm »
Thanks for that :D