Saving tax on property income

Posted by:

Rent a room

Rent a room relief is an optional scheme that lets you receive up to £7,500 (increased 6 April 2016, from previous limit of 4,250) in rent each year from a lodger, tax-free. This only applies if you rent out furnished accommodation in your own home.

Landlord’s expenses

If you rent out property, you can deduct a range of costs before declaring your taxable income. These include the wages of gardeners and cleaners, and letting agency fees.

See Lindsay for the full range of expenses you may claim

0

About the Author:

  Related Posts
  • No related posts found.

Add a Comment


20 − eleven =