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What way do i pay tax on this?

naomhbooboo · 2012-04-09 17:17:55

Hi, This will be a bit long winded but bear with me! I moved into a house owned by my Mam 7 years ago just after selling our house in 2005. We paid rent and also took on the renovation of the property coming in at about 36,000. Recently we decided it was time to buy a property again and we did so. Now my Mum is going to…

09-04-2012 5:17pm

#1

naomhbooboo

Registered Users, Registered Users 2 Posts: 25 ✭

Join Date: June 2008

Posts: 12

Hi,

This will be a bit long winded but bear with me!

I moved into a house owned by my Mam 7 years ago just after selling our house in 2005. We paid rent and also took on the renovation of the property coming in at about 36,000. Recently we decided it was time to buy a property again and we did so.

Now my Mum is going to rent out the property for 800 euro a month and give me 400 of that each month to repay all the money we spent on it as it was not very livable when we went there first.

Anyway how do I pay tax on this? I don't work but my husband does and he has my tax credits. Do I do a self assessment form at the end of the year or would my husband be better doing it?

Any info would help.

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