Rent a room scheme
23 Nov
I was looking around for decent resources on lodger topics today just to see if there was anything I could mix in with my own knowledge and I came across a government run website about the rent a room scheme, you can find their website here.
The Rent a Room scheme is basically an optional exemption that allows you to receive a certain amount of income from renting furnished accommodation without paying tax on the gross income. The amount to be exact is upset £4250 a year or £2150 if letting jointly! This is a pretty sweet deal and makes renting a room in your home a little more appealing.
You do not need to be a home owner to take advantage of this scheme but the property needs to be your only or main home.
December 20th, 2007 at 1:28 pm
[…] most of rent a room scheme Posted by Mambo Joe in December 19th, 2007 Published in Business The rent a room scheme is a great government initiative which allows people to rent out a spare room in their home and […]