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08 October 2012

Renting and subletting a house

Hello all, So I am about to rent a house for 1100 a month. The house has 3 rooms, so I will subletting 2 of them. (And the landlord is ok with that) So I will be getting say, 700 in rent from those two rooms per month, which I then add mine to and transfer to the landlord. The question is with tax - Clearly i'll be getting another ~8k per year in 'income', but clearly it's not income, it's going straight to the landlord. What are the issues here. Do I need to file a tax return for all the money received? Do I have to pay tax on that? What if it pushes me up a tax bracket? Any help would be appreciated. Regards, Toby

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