Date updated: Wednesday 15th July 2015
For many years, an individual can receive income from the letting of one or more rooms in their only or main residence up to £4,250 free of tax.
The Budget has increased this relief to £7,500 from 6 April 2016, the first increase since 1997.
Care needs to be taken where more than one person is entitled to the letting income and/or where the income is in excess of the relief.
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