Families are struggling to bridge the gap between income and expenditure in order to cover household bills. The rent-a-room scheme allows you to earn extra cash each month. This additional tax-free income helps greatly in terms of covering monthly mortgage repayments, especially if you've already used up your personal tax allowance.

How to Earn Extra Cash by Renting Out a Room

The growing UK population issue has been partially addressed by giving homeowners the chance to earn extra cash from their property. The rent-a-room scheme encourages people to take in a lodger. It allows a homeowner or agreeable landlord to make a tax-free income of £4,250 per annum. Any figure in excess of £4,250 is taxable.