July 7th, 2011

Cash in on the Olympics

 

With the start of the 2012 Olympic Games around the corner London based folk could think about renting out a spare room to visitors.  If so check out the Rent a Room Scheme, which applies to anyone who lets furnished accommodation in a residential property.  Under the scheme, you can receive up to £4,250 a year tax-free.

To take advantage of the scheme you can let a furnished room (or even an entire floor of your home) to a lodger who pays to live in your home and, even if they have access to family rooms occasionally, that’s fine.

In addition, you can use the Rent a Room scheme if your home is rented; you don’t have to be the owner.  Full details of the scheme can be found at:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804

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Managing Director

Jonathan trained as a chartered accountant with Price Waterhouse (now PWC) in Liverpool before becoming a small business services manager for Grant Thornton in Warrington. He also spent three years as the financial controller for Brookside and Hollyoaks (not that he ever mentions it!).

Jonathan is recognised as a specialist in the entertainment industry and is often called upon to provide training courses and seminars for media professionals. He's also a bit of a technology geek and has been recognised with the accountancy industry as one of the most progressive accountants in the UK.
Outside of work Jonathan is very proud to be the Treasurer of the Tim Parry Johnathan Ball Foundation for Peace and to be on the Council of the Liverpool Institute of Performing Arts (LIPA)

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