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Posted Tue, 23 Jan 2024 16:28:42 GMT by
Hi I received lodger income for the first 8 months of the tax year. I understand the tax exemption is reduced from £7,500 to £3,750 if the RAR scheme conditions are not met for the whole tax year. The income exceeds £3,750 and therefore the excess is liable for tax, is this correct? For the remaining 4 months of the tax year, I moved out of the property and received income from a tenancy. The previously mentioned lodger did not remain in the property, the tenants were new to the property. Please advise how I should report the 'Total rents and other income from property'? Do I need to include the total sum of rent from the lodger and the tenants for the tax year or exclude the tax exempted amount of £3,750? Many thanks
Posted Thu, 25 Jan 2024 16:23:29 GMT by HMRC Admin 25 Response
Hi rarrpish89,
Please refer to HS223 Rent a room scheme.
Rent a Room Scheme (Self Assessment helpsheet HS223)
You would also complete the Income from property page if you rented out the whole property.
Thank you. 

 

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