If you're considering renting out your accommodation during the 2012 Olympic and Paralympic Games, make sure you check whether you have to pay tax on the income.
Under the Rent a Room 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 GOV.UK website (Opens new window)
If you're thinking about renting out your home and living elsewhere during the Games, any profits you receive are worked out and taxed as residential property lettings.
