when do i need to pay tax on my rental income? and what can I claim as non-profit? Can i use my mortage as an expense or just the interest chargedf on it?

[bowannabow]

any advice very welcome! thanks

[Tom Braider]

Very big question! Try this link: http://www.direct.gov.uk/en/MoneyTaxAndBenefit s/Taxes/TaxOnPropertyAndRentalIncome/DG_100134 35

The interest on a loan used to buy the let property is allowable but not the capital replayments. The tax is paid in January and July each year - you have to complete a Self Assessment tax return.