Victory for SpareRoom’s Raise The Roof campaign in Summer Budget 2015

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Posted on July 8, 2015

Rhizome has been working with SpareRoom since 2009 to boost the profile of its Raise the Roof campaign, which aimed to help hard-pressed homeowners get more tax relief for renting out a room and, in doing so, boost the rental market with much-needed supply.

The government’s Rent a Room scheme tax-free threshold hasn’t changed from its current level of £4,250 per annum in the past 18 years. Since then of course, rents have increased dramatically.

But today the campaign was victorious, with Chancellor George Osborne announcing a substantial rise in the amount of tax-free income that homeowners can earn from renting out a room in their property – up to £7,500 per year.

Rhizome and SpareRoom worked closely with Solihull MP Julian Knight to submit a Budget submission to the Chancellor earlier this month, outlining reasons to increase the threshold.

This change will no doubt have a positive impact on the housing crisis, allowing us to make better use of existing accommodation, creating a source of vital income for struggling homeowners and providing more affordable rental accommodation.

The plans announced in today’s Summer Budget, which kick in from April 2016, are a huge win for both the Raise the Roof campaign and for the millions of renters and homeowners across the UK.

But this is also a big win for Rhizome PR! It’s certainly given us reason to cheer, even with a Tube strike about to begin…

Here are some of the first pieces coverage we generated in the hours after the Budget, after our reactive team leapt into action:

Boost for first-time buyers as buy-to-let landlords’ profits are slashed in crackdown on mortgage interest tax relief

Summer Budget: Tax changes aim to subdue buy to let boom

Boost for first-time buyers as buy-to-let landlords’ profits are slashed in crackdown on mortgage interest tax relief

Summer Budget: Reactions from the sector

Summer Budget 2015: Rent a room threshold to rise

SpareRoom.co.uk welcomes £7,500 room rental tax relief

Warnings over impact of buy to let mortgage tax change announced in UK Budget

Summer Budget 2015: Rent a room threshold to rise

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