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    MSE Lawrence
    Take in a lodger... official discussion
    • #1
    • 16th Oct 07, 6:02 PM
    Take in a lodger... official discussion 16th Oct 07 at 6:02 PM
    This is a special discussion as part of the guide to

    The ‘rent a room’ scheme means you can take in a lodger to live in a furnished room in your home, and it has a special exemption meaning you won’t have to pay tax on the first 4,250 you make each year.

    This is a huge tax break for most people and really ups the gain. Better still, as a landlord you’ll be expected to ask for a deposit and a month in advance, which means ready cash comes in quickly.

    How much? You can take home 4, 250 without paying a penny in tax; if you've a desirable property and don't mind paying income tax on anything above this, you could easily add another 1,000.

    Find out more: Read the Govt info on rent a room.

    The "Take a Lodger" Great Hunt

    I want to tap MoneySavers for their tips on finding the perfect lodger, dealing with deposits and being a good landlord. Where should you advertise? What do you need to provide, eg, duvets, food etc?

    Please feel free to add your comments, suggestions or questions

    Just click reply

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    Last edited by MSE Andrea; 15-03-2011 at 3:53 PM.
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