Rent a Room Relief

Rent a Room Scheme – boosting your tax-free income With the explosion in Airbnb lettings and other similar initiatives, it’s worth remembering that since April 2016, up to £7,500 of rental income can be earned tax-free under the government’s ‘Rent a Room’ scheme. This is an optional scheme available to occupiers or tenants who rent out a furnished room or … Read More

Budget 2017 – employed and self employed taxes

Self Employed Making Tax Digital employed and self employed taxes – Following concerns from tax professionals and taxpayers alike on the tight implementation timeframe, the government will delay the introduction of quarterly reporting for unincorporated businesses and landlords with turnover below the VAT threshold until April 2019. In addition, the cash basis entry threshold will be increased to £150,000 and … Read More