HMRC Property Income Allowance

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A £1000 tax-free allowance that can be used against rental income. Can’t be claimed in conjunction with any other allowances, so make sure you’re being tax efficient!
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When can it be claimed?

• You’re a live-in landlord
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• You rent out the property you don’t live in
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• Your expenses are less than £1000 per annum
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• You rent  property via Airbnb
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• Other tax reliefs aren’t being claimed on rental income
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• You own a property jointly, both can claim £1000 per annum
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Note: if annual rental income is <£1000 then it doesn’t need to be declared with HMRC, so you don’t need to do a tax return.

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