The chancellor has announced a major extension to the tax break of people renting out rooms for rent. The plans will come into effect for April next year and shows a £7,500 increase in tax breaks for up to 90 days a year helping home-sharing businesses like Airbnb and OneFineStay. Head of Public Policy, Patrick Robinson said in a statement,'The measures further demonstrates the UK government"s commitment to being a world leader in the sharing economy and shows their support for local residents across the country who are sharing their homes.'
The chancellor has announced a major extension to the tax break of people renting out rooms for rent. The plans will come into effect for April next year and shows a £3050 increase in tax breaks for up to 90 days a year helping home-sharing businesses like Airbnb and OneFineStay. Head of Public Policy, Patrick Robinson said in a statement,'The measures further demonstrates the UK government"s commitment to being a world leader in the sharing economy and shows their support for local residents across the country who are sharing their homes.'