With the cost of living going up, earning some tax-free income sounds pretty awesome, right? If you have a spare room, you can actually do that by renting it out and using the rent-a-room scheme. What’s Rent-a-Room? The rent-a-room scheme lets you earn up to £7,500 tax-free each year by renting out one or more rooms in your home. If you're sharing the income with someone else, you each can earn up to £3,750 tax-free per year.
Boost your income by letting out your spare room
Boost your income by letting out your spare…
Boost your income by letting out your spare room
With the cost of living going up, earning some tax-free income sounds pretty awesome, right? If you have a spare room, you can actually do that by renting it out and using the rent-a-room scheme. What’s Rent-a-Room? The rent-a-room scheme lets you earn up to £7,500 tax-free each year by renting out one or more rooms in your home. If you're sharing the income with someone else, you each can earn up to £3,750 tax-free per year.