HM Treasury call for Budget representations
While the LITRG welcomes the chance to contribute to tax policy development, we stress the need for thorough consultation periods to prevent the implementation of poorly-considered legislation. Nevertheless, we have taken the opportunity of HM Treasury’s last-minute call for representations for the 2013 Budget to raise a matter which has concerned us for some years as having been overlooked and in desperate need of review – that is, the freezing of the income limit for 'rent-a-room' relief.
The rent-a-room relief limit (which allows a person to let out a room in their own home and receive income, tax-free, up to a certain level) has now been fixed for some 15 years at £4,250 per annum. LITRG has made representations for some years that this amount is well overdue for review.
Follow the link below to read LITRG's response.
Contact: Robin Williamson (please use form at http://www.litrg.org.uk/ContactUs)