Wimbledon home renters warned about tax liability

As hundreds of homeowners rent out their rooms and houses during the Wimbledon tennis championships for up to £15,000 a week, it is important to pay the right tax to avoid penalties

This year’s tournament is seeing a very buoyant market with houses renting at up to £15,000 a week, four-to-five-bedroom houses renting for £7,000 a week, three-bedroom houses renting for up to £1,800 a week and one- and two-bedrooms flats fetching £1,550.

‘His Majesty’s Inspectors of Taxes have always taken a close interest in money making activities during the Wimbledon tennis tournament as we know that hundreds of houses have been let out to players, officials and tennis fans,’ said Stefanie Tremain, a partner at Blick Rothenberg.

‘Hamptons have rented out over 40 properties in the Wimbledon area and once again residents will be cashing in on the thousands of spectators, renting out driveways for parking, selling cold drinks and refreshments and even strawberries and cream.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe