Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a740333

Budget 2014: 12 predictions

by Michelle McGagh on Mar 17, 2014 at 09:10

Rent-a-room

Sky-high house prices and rents coupled with home-owning households struggling to pay the bills means the idea of taking in a lodger is catching on.

Riches said an increase in the rent-a-room relief which exempts households from paying tax on up to £4,250 a year of rent from a lodger could be increased.

‘With four million people renting private property and the continued pressure on housing, an easy way to boost supply and to help those facing the ‘bedroom tax’ would be to increase the threshold for rent-a-room relief,’ she said.

‘Currently taxpayers are exempt from income tax on up to £4,250 a year gross receipts received from a lodger who is living in their only or main home. The figure has been unchanged since it was introduced in 1997 despite the huge increase in average rental charges since then.’

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet