Switching to a Buy-To-Rent mortgage?

sniperpenguin

Thrugelmir wrote: »

Indeed, on any net profit you make at 20%, and at 40% if you are a high rate tax payer.

Interesting - Does the HMRC class profit as simply "Rent - Mortgage" or are you allowed to write off operational expenses such as landlord insurance, legal fees and other repairs?

Thrugelmir

Net profit is taxable. As you say allowable costs and expenses are deductible from gross rent in arriving at this.

If you are unsure may be worth taking professional advice. At least advice to get you started and set-up correctly. In an hour face to face meeting all matters can be covered adequately.