The added bonus of a MondaytoFriday lodger
Make the most of the Rent a Room tax break and rent out your room Monday to Friday.
As we all prepare for the end of one financial year and the beginning of the next, it’s a good time to remember the huge tax advantage of the Rent a Room Scheme. We can’t think of another way to earn up to £7,500 a year tax-free! If your top rate of tax is 25%, that’s equivalent to earning £10k a year – if you’re in the 40% or 45% brackets it’s even more.
And it’s available to anyone who wants to let out furnished accommodation in their home, whether you live in the home yourself or not. You don’t even have to be the owner of the home. Even people who are running a b&b or guest house can claim the tax relief.
So, where’s the catch? We honestly can’t think of one – especially if you rent out your room MondaytoFriday. You get all the benefits of the tax relief, and none of the drawbacks of a full-time lodger.
Don't believe us? Check it out on the Government website at https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme.
Make the most of the Rent a Room tax break, and find the perfect MondaytoFriday lodger at www.MondaytoFriday.com.