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Resident Landlord

Term

Those who rent out part of their home to someone whilst also living there themselves. Usually they’ll need to submit a Self Assessment tax return.

If earnings exceed £7,500/year, the £7,500 can be claimed as an allowance and then the rest will be taxed.

If earnings are less than £7,500/year, then it doesn’t need to be declared unless you registered for a self assessment in the previous year.

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