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goldygash
goldygash Posts: 55 Forumite
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Does anyone know in the section ‘other income’ whether rental property value is supposed to be the ‘rental income’ or ‘taxable profit’?

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  • System
    System Posts: 178,094 Community Admin
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    It is based on the profit. Be careful when calculating it remembering the new rules on mortgage repayments.
  • Herbies
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    Given the new rules on mortgage interest and how it inflates income (but comes out in the wash if you are 20% tax payer) does anyone have any experience of whether SFE accept the net profit figure ie ex mortgage interest payments ? because it creates a variance between SFE application and HMRC tax return.  It is going to impact university bursary ALOT if they take the gross figure and disregard the mortgage interest payments ( which is contrary to how tax credits calculate property income, who DO use the net figure). Anyone been through this and seen how SFE actually deal with this issue ? thanks


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