A finance expert has shared the top ways homeowners can earn money from their properties
HMRC has unveiled top tips for homeowners to earn extra cash, with the potential to rake in up to £7,500 tax-free by renting out furnished rooms. Nojan Rahimi from Blutin Finance has shared insights on this.
"Additionally, if your property is unoccupied and unfurnished, you might be eligible for a temporary exemption." Rahimi also touched upon the complexities of Capital Gains Tax , noting it as "one of the more significant yet often misunderstood taxes".Rahimi further commented: "If you decide to rent out your property, there are additional tax implications to consider. Rental income is subject to Income Tax, and you must declare this income on your annual tax return.
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