If you're considering renting out accommodation during the Olympic and Paralymic Games, make sure you check whether you have to pay tax on the income. To find out, check the Rent a Room scheme first.
Under the scheme, you can receive up to £4,250 a year tax-free if you rent out a furnished room in a residential property.
Find out more about the Rent a Room scheme on the Directgov website (Opens new window)
