If you rent out a room in your house, you benefit from a reduction in your tax bill. This relief is up to an annual maximum of £7,500 from 6 April 2016. One way to benefit from this relief is to buy a house for a child while they are at university. If a room is rented to another student, it may be possible to benefit from tax relief.
The surprising number of alternative investments that are tax efficient shows that you should take advice before making such investments. You might be surprised at the tax benefits you can enjoy. Of course, these investments are not low risk and can be illiquid, which means it may be difficult to access your capital quickly. They may also not provide a regular income stream.
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