Newth Talks Tax: Renting a room out in main home | AccountingWEB

Newth Talks Tax: Renting a room out in main home

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 year


» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.



DAS | | Permalink

Where two people (X and Y) share ownership of the property can X claim £2,125 rent-a-room relief, while Y calculates thier taxable profits under method A?

Can Y thereby claim relief for all expenses?