HMRC rent-a-room scheme increases tax-free income for householders
Householders in the UK could boost their tax-free income to £20,070 through HMRC's rent-a-room scheme. By letting out a furnished room in their main residence, they can earn up to £7,500 tax-free each year, in addition to their standard personal allowance of £12,570. This scheme aims to encourage people to make use of unused space in their homes.
Source: Chronicle Live
National
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