Rent a room change
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Rent a room change

posted in Business by Phillip Harris on 08:34 Aug 8th, 2018

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 AAT: Rethink needed on rent-a-room rule change

The Association of Accounting Technicians (AAT) has urged ministers to drop plans to change ‘rent-a-room’ rules which allow people to earn up to £7,500 a year tax-free from letting out a spare room. The AAT fears that a new “shared occupancy test” that will only offer tax relief to landlords present at the property during the rental period will add unnecessary complexity to the tax system. Phil Hall, AAT’s head of public affairs and public policy, said the reform would force landlords to complete a self-assessment tax return when they otherwise wouldn’t, and may reduce the availability of accommodation by deterring people from renting out spare rooms.

Source:   Simple Landlords (06/08/2018)

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