Tax free income - just a thought
Rent-a-room relief - the basic principle is that an individual may receive rent of up to £4,250 a year tax-free by letting a room in his (or her) private residence. This rent may or may not include additional services such as food, cleaning and laundry.
The relief is available to qualifying individuals (not to companies or partnerships) and applies to the individual’s main residence.
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Cathy Corns is a Corporate Tax partner at Mercer & Hole.
Date: 11th May, 2009
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