Julian Knight has encouraged Chancellor George Osbourne to increase the tax threshold for homeowners who rent out a spare room.At present, it is possible to earn £4250 a year from renting out a spare room before paying tax. However, Julian would like to see this raised.
Speaking in the Commons, Julian says: "Many hardworking homeowners in my constituency take in lodgers to help meet their mortgage repayments. However, the rent-a-room tax free threshold has remained unchanged at £4250 a year since 1997. Would it not be a positive step to help aspirational homeowners by raising the rent-a-room tax-free threshold?"