Hi everyone,
Get ready to explore sustainability in a f...
Latest reply
Hi everyone,
Get ready to explore sustainability in a fun and engaging way with our sustainability bingo game! Mark off ...
Latest reply
There is still some confusion here with this. With renting a furnished (spare) room within a property that you already live in, I've read that you do not need to pay any tax if the overall rental income (gross) is under £7500 within a tax year. However does this depend on your own income from your own job or not?
And if it less than £7500 then no further action needs to be taken? As in no declaration needs to be made to HMRC?
But if it's your own full space when you're out, does that count as part of the rent a room scheme? still my own residence but when I'm out so not a spare room. anyone know?
You let out your listing as a whole space, so obviously this would not be eligible under the government's rent a room scheme. @Caroline545
The scheme was designed to free up rooms in people's homes for rent for long term tenants because of our crisis in private rented accommodation.
You can rent your whole home out for up to 90 days maximum in London. You will pay tax on any income.
thanks... I guess it wasn't that' obvious to me but I must be a bit slower than everyone. thanks for clarifying