Monday, August 22, 2005

Starting out in buy to let

If you are interested in starting a property investment portfolio but don't have a wad of cash handy, start small by renting out a room in your own home in order to save for the deposit for your first investment. There is a 'rent a room' tax allowance for individuals which for the year 2005-2006 is £4250.

(Although, to be frank, I never heard of anyone actually paying tax on income they got from letting a room in their own home!)

Chris Bell

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