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Mark rent a room in his main residence for 9 months.
£350*9=£3150 < £4250*9/12=£3188 -- exempt But the answer says £3150 < £4250 -- exempt Isn’t the relief £4250 p.a.?
Yes but the rental income is less than 4250
You don’t need to prorate the limit
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Yes dear in Property Business Profits whenever there is a rent a room there is exemption of Rent a Room Relief (RRR). The exempt amount allowed by HMRC is £4250 but it could be more deductible if with prove shown the amount of additional expenses but the minimum exempt amount is £4250.
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