No, I am not talking about doing clever things with your mortgage. There are many options to choose from if you have room to spare, or live in the right location.
Under the UK Inland Revenue’s ‘Rent A Room’ scheme, you are entitled to earn £4,250 in rent, tax free, per household by letting out a room in your house. You do have to declare it on your income tax return form.
If you do not want to have anyone living with you full time, but would prefer to let out a room for short periods, there are people who organize accommodation for tourists, business people and students who wish to stay in London.
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