renting a spare room

mandimoo | 09:43 Tue 15th Aug 2006 | Business & Finance

2 Answers

i live in the uk (england to be precise) and would like to know how much (if anything) i can chage a mate to live with me, without having to declare it for tax purposes. also, if there is anything else i should bear in mind.

P45 & self employed

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Catso

If your total receipts are less than �4,250, you don't have to declare it.

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Ethel

If you own your own home with a mortgage the mortgage company may need to be informed.

Your insurance company will need to be informed.

If you are renting, it may not be allowed under the terms of your lease.

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