Kangaroo Self Storage Glasgow have estimated that 50,000 Glasgow households could earn £4,250 tax-free by letting a room in their home to a lodger.
This assumes that 1 in 6 of Glasgow’s 300,000 households has a room that can be used. Instead of “wasting” a room by using it for storage, this under-utilised room could be earning up to £350 a month tax-free. The contents of the room could be stored in a Glasgow storage unit for around £50 a month. That leaves £300 in profit for the householder.
In these tough economic times such an amount could make a real difference to many families in the Glasgow area.
Steven Hourston, Director of Kangaroo Self Storage comments “Usually people only think of self storage when they move home. Here’s an opportunity to earn money by using self storage. People can rent a storage unit for as little as £50 a month, an affordable cost if that means they can make £300 in profit from renting their spare room.”
The Rent a Room scheme lets householders receive £4,250 tax-free gross income from renting furnished accommodation in your own or main home. The home does not have to be owned to benefit from this scheme. Leaseholders get the same benefits as home-owners. Full details can be found at www.direct.gov.uk
Spend £50 and make £300. Mmmm, that’s not the toughest decision faced by many.
Tags: rent a room, save money, Storage tax break
