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Where Taxpayers and Advisers Meet

Does room allowance apply to self-employed?

CaroleJ
Posts:8
Joined:Fri Dec 16, 2022 5:30 pm
Does room allowance apply to self-employed?

Postby CaroleJ » Sun Nov 03, 2024 3:11 pm

Hello all,
I can't find the answer to this question on the HMRC website. Simply put, if I'm self-employed with a modest income in the 20% tax band, am I still entitled to the £7,500 annual allowance to rent out a room in my home? Or is that just for those who have no other income?
Many thanks!

bd6759
Posts:4378
Joined:Sat Feb 01, 2014 3:26 pm

Re: Does room allowance apply to self-employed?

Postby bd6759 » Sun Nov 03, 2024 11:01 pm

It applies to everyone who rents a room in their main home

https://www.gov.uk/government/publications/rent-a-room-for-traders-hs223-self-assessment-helpsheet/hs223-rent-a-room-scheme-2023

CaroleJ
Posts:8
Joined:Fri Dec 16, 2022 5:30 pm

Re: Does room allowance apply to self-employed?

Postby CaroleJ » Tue Nov 05, 2024 10:43 pm

'Thank you! Much appreciated.


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