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How would you like a free holiday this summer? If you live in or close to London you might be able to afford one by letting out your home to visitors to the Olympic Games.
They get to avoid the high prices hotels are reputedly charging for the weeks of the games you avoid the congestion and chaos of London during the Olympics by going away on a holiday paid for by the rental income.
But there are no free lunches I hear you respond; if I make some rental income I am going to have to pay tax on it. While that might look as if it is the case there may be a way to structure the letting that avoids a tax liability.
How? By using rent a room relief (RARR).
The RARR rules are well established. But what’s that got to do with...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
