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Taxation: Residential Property

Volume 716: debated on Tuesday 5 January 2010


Asked by

To ask Her Majesty's Government whether they will provide tax relief for the letting of dwellings which have been empty for long periods and for individual rooms in private houses. [HL577]

There is no relief for the letting of dwellings that have been empty for long periods. All taxes are kept under review, with any changes announced by the Chancellor as part of the Budget cycle.

The rent-a-room scheme provides that income under £4,250 from the letting of furnished residential accommodation in an individual's main or only home is not charged to income tax. If the income exceeds this threshold, the individual may choose whether to pay tax on the amount in excess of £4,250 or the actual profit they derive from letting out the accommodation.