New Rules on Rent a Room

Fair View Accountants > Blog > Tax Saving tips and Advice > New Rules on Rent a Room
New Rules on Rent a Room

Rent a room relief allows you to receive £7,500 tax-free of the property you own.

HMRC has proposed to change to the Rent-a-room relief (RARR) from 6 April 2019. From this date, RARR will only be claimable in respect of periods where the occupation of the property as “sleeping accommodation” overlaps “wholly or partly” with the period of letting. This means it will still be available to Airbnb-type lettings as long as you stay in part of your home for at least some of the time each tenant is in occupation. 

Full details of the outcome and the final proposal of the new rules are not available until the Finance bill 2019. Sign up for our newsletter to get an update on this in the future. 

Want to get a free consultation about your Financial Accounts? Fill the form below or contact us now!

 

Contact Information

Follow us

    Send Us Message

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    X