Rent a Room Relief
In Wednesday's Summer Budget Speech, the Chancellor announced that with effect from April 2016, the level of the annual rent-a -room relief will be increased from £4,250 to £7,500. This means that any rents you receive up to £625 per month are completely tax free.
In light of this, consideration should be given to letting out any additional spare rooms that you were thinking of letting or indeed increasing the current rent of your existing rent from lodgings.
Please get in touch on 020 8545 7600 if you have any further questions.