No further tax relief for UK sharing economy start-ups
Sharing economy start-ups were dissatisfied with UK Chancellor, George Osborne's, Autumn Statement on Wednesday, as they were hoping he would introduce a sharing economy tax relief so individuals could earn money tax-free when renting out their belonging."A sharing economy tax relief would encourage individuals to unlock previously unused or under-used assets, helping these microentrepreneurs to make and save money," said Debbie Wosskow, Chair of Sharing Economy UK, Founder and CEO of Love Home Swap. However, earlier in the year, the Chancellor did make changes to the Rent-a-Room allowance, whereby homeowners will be able to earn £7,500 tax-free by renting out a room in their property from April 2016, compared to the current limit of £4,250. 

Britain's Chancellor of the Exchequer George Osborne. Reuters

Chancellor of the Exchequer George Osborne delivered his annual Autumn Statement at Westminster today but a number of British startups believe he's missed a key opportunity to support them.

Sharing economy startups — those that allow individuals to share their homes and possessions in return for a fee — were particularly disappointed.

Sharing Economy UK, a trade body that counts the likes of Airbnb, BlaBlaCar, JustPark, and Hassle.com as members, wanted to see Osborne introduce a sharing economy tax relief so that individuals could earn tax-free money when renting out their belongings.

Debbie Wosskow, chair of SEUK and Founder and CEO of Love Home Swap, said: "I am disappointed today that more hasn't been done to support the individuals who want to supplement their income by renting out spare rooms, unused storage or space in their driveways.

"A sharing economy tax relief would encourage individuals to unlock previously unused or under-used assets, helping these microentrepreneurs to make and save money. What's more, changes from the government on this matter would be a bold statement that the UK is leading the charge globally in best harnessing the sharing economy."