"For anyone with a child leaving school and going to study elsewhere, there’s a great opportunity to rent their room out, and use it to support them over the next few expensive years," she explained.
"If you don’t want to rent the room full time you could consider anything from short-term lets to renting to a student during term-time, or to a commuter from Monday-Friday."Under the Rent a Room scheme, the first £7,500 a year you receive from renting out a furnished room to a lodger is tax-free.This means you can use the scheme if you are renting.But there are some rules to bear in mind about the scheme.
First, if you still have a mortgage on a property, you need to get permission from your lender before renting out a room.In either situation, you will need to tell yourSecond, if you're living on your own and claiming the 25%Third, any income received from renting a room can impact any means-tested