The 2016 UK budget saw extra tax relief worth £1,000 a year, aimed at encouraging  people looking to rent out their spare rooms.

Last summer saw a change in annual tax-free threshold for taking lodgers, which raised from £4,250 to £7,500 for rooms rented in a main residence. The new tax break for online property rental will this time apply even if the entire property is rented — as is often the case with Airbnb.

It will also apply to other sharing economy style rental services, including as workspace and parking rental, and seems to contrast with previous moves worldwide to restrict rather than encourage such sharing without formal legislation.

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