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  • Tax

    Rent A Room Scheme - allowance?

    Could  anyone please clarify about rent a room scheme.I believe the threshold is £7500  .Will this amount be  included in your personal income allowance of £ 11500  or you can have it on top of that.

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    It's in addition to your Personal Allowance.

    The RAR Scheme only applies to your Main Home.

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    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    Does that effect your capital gains in any way at the time of selling ?

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    In theory it can, in practice its unlikely. Speak to a tax adviser for absolute clarification.

    The RAR scheme allows you to earn up to £7500 pa tax free on your Main Home. There is no need to declare this income unless it is more than £7500 pa.

    CGT is not charged on your PPR but can be if you've taken in more than 1 lodger at a time.

    Your Main Home and your PPR do not have to be the same property.

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    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here


    The RAR allowance is £7500 in the UK. A little googling showed that it is 14000€ in the Republic of Ireland.

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    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here