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I have been approached by a friend to see if i will rent out my spare room to his friends daughter. She has recently qualified as a solicitor & requires accomodation in London. I have a double room & she will share a bathroom with me. i live on Wood Vale so whilst transport isnt on the door step it is easy to get to both Forest Hill & the Dulwich stations. Having never lived in rented accomodation i have no idea what i should ask her for rent. Does anyone else have a lodger & how do you find it? what does your lodger expect to be in with the rent etc. Any tips would be appreciated.

Thanks

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red devil Wrote:

-------------------------------------------------------

> Lots of info on the web...

> http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Ta

> xes/TaxOnPropertyAndRentalIncome/DG_4017804



Yes, that's what I was thinking of...

from the link:

You can receive up to ?4,250 a year tax-free (?2,125 if letting jointly) by letting furnished rooms in your home. This is known as the Rent a Room scheme.


So that works out to just under 400 pcm, but under this scheme you can't claim back an letting-related expenses.


You have to weigh that up agaist whether you'd be better off declaring the rent for tax purposes, then claiming back expenses. But if you don't really have any related expenses, then the maybe the Rent a Room scheme is for you.

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