Property rental tax compliance essentials

Emma Rawson, technical officer at the Association of Taxation Technicians (ATT) explores how the rent a room scheme and property income allowance affect rental income for residential landlords and property owners

What are the tax implications for renting out your own property during December?

The basic position is that income from renting out property is taxable. However, rent a room (RaR) relief allows you to earn up to £7,500 a year from letting out accommodation in your home tax free.

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