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Author: JP / / Latest News

Don’t forget ‘Rent a Room’ Relief

Remember that there is £7,500 a year allowance deducted from rent received from lodgers where you rent out part of your main residence.

The allowance increased from £4,250 from 6 April 2016. So that now the first £7,500 rent from lodgers is tax free and where it does exceed £7,500 a year only the excess is taxable.

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