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Renting out- what about mortgage interest?
biscit
Posts: 1,018 Forumite
I'm looking for a straight forward guide to letting out a property. I seem to be missing it on the main pages- can anyone give me a link?
The agencies state that unless I fill in an overseas landlord form, they will have to take income tax off the rent.
What counts against this? Mortgage interest? Can find no clear reference to this being an allowable expense.
The agencies state that unless I fill in an overseas landlord form, they will have to take income tax off the rent.
What counts against this? Mortgage interest? Can find no clear reference to this being an allowable expense.
0
Comments
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Details of what the letting agent would need to do can be found from the link below, also it's not difficult for you to register so you can be in control of your tax affairs rather than the agents having to do it.
The Non resident Landlords Scheme
http://www.hmrc.gov.uk/CNR/nr_landlords.htm0 -
OK thanks for the link.
PS In case anyone was wondering: We have consulted our mortgage lender about permission to let and they do allow it- the agent is part of their T&C. We are not going ahead until we dot the is and cross the ts on that!0 -
http://www.simplicityfinancial.com/downloads/ir150.pdf
this should be a link to the HMRC taxation of rent.
Also
http://www.hmrc.gov.uk/cnr/nrl_guide_notes.pdf
for non resident landlords0
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