We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
is renting out my house a good idea?
anotherfinemess_2
Posts: 2 Newbie
I own a house outright and may move for a new job. Is is worth renting it out and renting myself for a year? Will the rental income be taxed at 40% - job at £30k
0
Comments
-
if you own it outright you might as well, but of course you wil have all the regs & legal issues to navigate:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
It wont be taxed at 40% unless the rental income is quite large (I think that the cut off is £38kpa now or thereabouts). Of course, you could mortgage it to offset any tax, repay just the interest every month and keep the capital elsewhere - just an idea for a bit of gearing...0
-
Unless the income from rental is alot greater than what you would pay out in rent then why bother? If work takes you along way from your current house then of course it is a different matter.
But renting can cause alot of hassle for you as a landlord. You have no mortgage so enjoy your life now!!!!!!
My wealth is created by my happiness.0 -
Perhaps you need to be giving this advice a lot more often!!!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards