WITH the cost of living rising, many people are looking for ways of making money alongside their day jobs.
John Bohan, a business owner from The Wirral, has made £1,500 from letting out a pub that he built in his back garden.
He told The Times: "During lockdown I couldn't really see any of my friends or family socially.
"The pubs were shut so I decided to build one in the back garden."
The 43-year-old spent £4,000 building and kitting out his boozer with lights, a heater and a beer pump.
He applied for a £37 personal license to sell alcohol and an £100 premises license.
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John keeps it stocked with beer, cider and spirits, and asks guest to pay for what they have drunk at the end of the night. And he charges £100 for a party.
John moved out of London in October 2020 and said the bar has also helped him get to know his new neighbours.
He added: "If you have a spare room it's a good way to earn additional money, particularly in this economic climate."
John told The Times he going to use his profits to pay for a holiday to Lanzarote.
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Homeowners can earn £1,000 their property without paying tax.
This is called the Property Income Allowance.
It means if you earn less than this from rental income, you don't need to tell HMRC.
You could also earn up to £7,500 tax free cash by letting out a room in your home through the government's Rent-a-Room-Scheme.
But you'll need to report this to the tax-man via a self-assessment.
The scheme is open to people who let out a furnished room to a lodger or for trade, such as a guest house.
Anything earned above the tax threshold is subject to tax as the same rate as personal income.
You could also be making thousands of pounds in extra income by renting out your driveway space as a car park.
It is legal in the UK and can be a lucrative side hustle, with people hunting for convenient spots for work, concerts and sporting events.
You do not need planning permission in England, making it easier for people looking to take advantage.
Websites like JustPark make it easy for people to advertise their parking space, or you could go the old-fashioned way and put adverts in your local paper.
Just make sure you have a contract in place in advance to coverage that the owner of the space is not liable for damage, or could be slapped with some hefty costs and legal problems.
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