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:
Give us a referral and we will donate a goat to a family in AfricaFind out more