Declaring income from Rent-a-Room

Options
Hi all,


I have a quick question about declaring income from the Rent-a-Room Scheme.


My partner and I are both in the 20% income tax bracket. We understand we can earn £7,500 pa together free of tax each year.


We occasionally rent a furnished room in our family home (no other property) for much less than this amount.
Even an extra (7,500/2=) £3,750 would not put me into the higher earning tax bracket.


Do I have to do a tax return to advise them I've earned an extra £1,000 this past year, even though no tax is due?


Thanks all!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards