Do I need to declare income received from renting a room in my property?

If you choose to rent a room in your property under the Rent a Room Scheme, you can earn up to £7,500 per tax year and not have to declare this on a Self Assessment tax return. If you earn over the £7,500 allowance, you will have to pay tax on the income, but only on the amount over £7,500. Under the Rent a Room Scheme, you cannot claim any expenses.