You've Got Room to Earn Pounds 4,250 Tax-Free [Scot Region]

Summary

---

R. R. writes: If I rent out a room in my house, do I have to pay tax? J. W. replies: Under the rent-a-room scheme, you can rent out a room in your home and provided you earn no more than Pounds 4,250 from this, then the income is tax-free. To claim the relief, you must occupy your home during the period that the room is let and the room must be an integral part of your home, not a separate dwelling.

If the rent exceeds the Pounds 4,250 annual limit, you can either pay tax on the excess, or prepare a detailed statement of rent received less relevant expenses (such as the extra costs of heat, light and shared facilities) and pay tax on that excess.

See the full content of this document

Extract

---

You've Got Room to Earn Pounds 4,250 Tax-Free [Scot Region]

Self-assessment help sheet HS223 gives further details and is available from Re...

See the full content of this document

---