Crosswords1 min ago
tax
4 Answers
want to rent out my house that i own and rent a house that is closer to work. do i have to pay tax on the income if i'm paying out the same as i'm getting in
Answers
1 to 4 of 4
Best Answer
No best answer has yet been selected by cowdude. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
-- answer removed --
He gave her one star because subconsciously he knew she hadn't given the full answer.
Do you have a mortgage on the property you will be renting out? If so you will get tax relief on the interest payments. So if the mortgage is �500 a month and you rent it out for �600 tax would only be payable on the �100 difference.
Do you have a mortgage on the property you will be renting out? If so you will get tax relief on the interest payments. So if the mortgage is �500 a month and you rent it out for �600 tax would only be payable on the �100 difference.
1 to 4 of 4
