UK households with spare rooms can earn up to £7,500 tax-free by renting them out under HMRC rules.
UK households with a spare room could earn up to £7,500 tax-free by renting it out, according to HMRC rules. Homeowners can benefit from a single person discount of 25% and a temporary exemption if their property is unoccupied and unfurnished. Nojan Rahimi from Blutin Finance highlights the lesser-known aspects of HMRC's regulations concerning homeowners and the potential fines for non-compliance.
June 18, 2024
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