hello Sir,
I want to know that the limit of £4250 p.a is to be time apportioned ( to 9 months ) if the rent received for 9 months is £3150 or we shall straight away deduct 3150 from 4250 to get the exempt amount of £1100.
Actually i am not clear that is the limit per accounting period or per the tax year ?
thanks in advance
Ask the Tutor ACCA TX-UK
rent a room relief
Rent a room relief is relevant for an individual not a business letting a room or rooms within their own main residence and is an exempt amount per tax year of £4250 without any time apportionment!
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