(1) An individual qualifies for rent-a-room relief for a tax year if the individual—
(a) has rent-a-room receipts for the tax year (see section 786), and
(b) does not derive any taxable income other than rent-a-room receipts from a relevant trade, letting or agreement.
(2) “Taxable income” means receipts or other income in respect of which the individual is liable to income tax for the tax year.
(3) A relevant trade, letting or agreement is one from which the individual derives rent-a-room receipts for the tax year.
This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Property Taxes91Company Law & Business Entities92Companies & Corporate Bodies92Property Income91Income Tax91Trading Income93Real Property Law91Administration & Collection of Income Tax99Employment & Labour Law94Tax Law91Exempt Income92Personal Taxes91Employment Taxes94Employment Income94