Newth Talks Tax: Renting a room out in main home
Posted by AccountingWEB in Tax on Mon, 22/09/2008 - 08:48
Renting a room out in main home
Jennifer enquired whether, when a room in a residence is rented out, the person receiving the rental income can claim expenses against the income such as a proportion of the mortgage interest and insurance etc.
Simon Sweetman replied in the affirmative, but remarked that it may be better to claim the non-taxable rent a room relief of up to £4,250.
Paul Soper confirmed that this was correct, and added that, if the rent is marginally over £4,250 a y
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