Wednesday, September 20, 2017

How your garden office could earn you money

An interesting piece by eDEN Garden Rooms suggests that one way of making money from your garden room/office is simply renting it out, not for business using sites such as Vrumi or SpaceHop, but as a holiday let. Here's a snippet about the rent-a-room tax free allowance
By signing up to the rent-a-room scheme, you not only make money on your rental, but you are also eligible to earn up to £7,500 per year, tax free. Remember, before you decide to proceed that being part of the scheme means that you are not able to claim any expenses related to the letting. You should therefore make sure that you do some calculations beforehand on any possible maintenance and general upkeep that may be required, to check whether you’d be better-off financially in or out of the scheme. Before you take a lodger in, you should always check with your mortgage provider and home insurer to make sure that you are keeping within the terms of any existing contracts. If you rent, you’ll also need to check that your lease allows you to take on a lodger.
eDEN do point out that you need to think it all through carefully e.g. getting planning permission for an ‘independent separate dwelling’, ensuring you have full building regulations in place, etc.

Wednesday posts are sponsored by The Stable Company®, the UK's premier supplier of garden offices and garden rooms. Click here

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