rental income, tax-free income

Tax dodge of the week: a spare room can pay the mortgage

24.08.2007

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Having trouble meeting your mortgage payments since interest rates started rising? asks Elaine Moore in the FT. Then why not make your house have a go at paying for itself and make yourself a bit of tax-free income along the way. Rent out your spare room and you can earn up to £4,250 a year from your lodger before you become liable for tax on the income.

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Tax dodge of the week: a spare room can pay the mortgage

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