Category
3 articles
Renting a driveway or parking space can be a simple way to earn extra income, but HMRC usually treats it as property income. This guide explains the £1,000 property allowance, the expenses alternative, record-keeping and reporting in 2026/27.
The £1,000 property allowance can simplify a small rental business or shave tax off a larger one, but it is not a free-standing exemption. This guide explains when to claim it, when actual expenses beat it, and how to avoid overlapping it with rent-a-room relief.
Rent-a-room relief can take up to £7,500 of lodger income out of tax in 2026/27, or £3,750 where the limit is shared. This guide explains who qualifies, what furnished means, and when claiming actual expenses produces a lower tax bill.