Last week’s budget increased the tax-free allowance for lodger landlords – just do sure you don’t rupture any rulesBritain’s army of Airbnb landlords has been handed a cash bonus by the Treasury following an announcement in last week’s budget that means most of them will no longer pay tax on their rental income.
At the moment,anyone who rents out a room to a lodger where the rental income exceeds £4250 a year must pay tax on the amount above this. But last week the chancellor announced that, from April 2016, or this tax-free allowance will increase to £7500,the first time the threshold has moved since 1997.
Continue reading...
Source: theguardian.com