Tax - Rent a room

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    Tax - Rent a room

    I have a bungalow and work and draw a pension, does anyone know, what percentage of tax I would pay if I rented out a rom in my property?

    #2
    If your annual rent is less than £4,250 p.a. then it is entirely tax free. Above that sum you pay tax at your "normal" rate. (Strictly, "marginal" rate.)

    http://www.direct.gov.uk/en/MoneyTax...ome/DG_4017804

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      #3
      Thanks for that, I was worried that I maybe I was going to to pay tax at a higher rate because of work and my pension. So do I have to inform the tax office of what I intend to do? Sorry it sounds stupid but I new to this.

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        #4
        There is a box to tick on the tax return.

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