If, you have thought about renting out your driveway did you know that the income, you receive from that is taxable income.
That means you need to declare those earnings to HMRC.
You can do this as easy as phoning them, so they can ensure you are in the system which will soon cut over into Making Tax digital and you would fall into one of the first groups to be cut over into the new system.
Before you consider renting out your space think about the following:
Making a written contract ensure it sets out who is responsible for what and when and consider making sure you are not responsible for the vehicle.
Notify the neighbours
Make sure the council are not trying to issue with a planning application fee.
If you are taking on a long term agreement make sure you can provide what they need, a deposit or if you can’t think twice about entering into the arrangement in the first place.
If you wish to discuss anything about this with us we can be reached on our email at email@example.com or call Jane on 07801 287 213