Rental income received and taxed through PAYE
A client of mine has received, from her employer an amount of money each month for a salary plus an additional £250 for storing company stock at her house. Is it possible to put a claim into the HMRC maybe via a P87 to claim expenses against this income, such as an allocation of mortgage interest etc?
The client doesn't complete a self assessment return and this arrangement has been in place for a couple of years.
Any help would be much appreciated.
Lisa Coulson
Exclusive use?
Does this "storage of stock" take up exclusive use of a room? If not it would seem that the only possible claim might be for additional expenses incurred (utilities) and it is unlikely that her bills will have been increased for this.
If she has not yet declared this income she needs to come clean with HMRC.