Do you think it is non-taxable income? Maybe the expenses and mortgage payments exceed the rent you receive? Or you let it out to a family member or to a friend for a small rent?

Under the PAYE regulations it is a requirement to submit form P11D for any director or employee of a business who has been provided with a benefit or to whom expenses have been reimbursed.

Our Budget Summary provides an overview of the key announcements arising from the Chancellor’s speech. It also looks beyond the headlines and offers details on the less-publicised changes that are most likely to have an impact upon your business and your personal finances