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Thread: Tax on rental income

  1. #1

    Tax on rental income

    Chatting to a friend this evening and she said that if a person lets a room, and the rent is less than 80 per week then this income is tax free. A concession made to encourage unused rooms to be let. Does anyone know if this is correct?

  2. #2
    Yes, absolutely correct, John, and the allowance has increased to 7500 per year.

  3. #3
    Thanks jeffian, so she was correct in what she told me! We live and learn!

  4. #4
    So, is it correct then that if one has taken in a lodger and the total rental income per annum is less than 7,500.00, then one doesn't need to even mention it on one's tax return?

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