Tax Exemption

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    Tax Exemption

    Hello everyone,

    If I were to rent out a spare room of my 2-bed apartment, would I be entitled to the £7500 tax-free renting income mentioned here:

    Thanks in advance

    As long as no other rental income from property
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...


      Many thanks!


        Bringing this post up again. Just wanted to clarify:

        Are you eligible as long as rental income is below £7500? Or does it take into account all income, regardless if it comes from rental properties or not?


          Your other income (including from other rental property) does not affect entitlement to the Rent-a-Room allowance. Rental income from a room in your own home is tax free up to £7500. You cannot offset any costs against this - although you do have the option of opting out and treating that income as ordinary rental income if you prefer.
          There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.


            Many thanks for clarifying doobrey


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