house renting tax

antbann

Hi,

Can someone advise me if i need to pay tax on my house that i rent out i get £4792 in rent a year but my expenditure is £5641 with the mortgage

So if anyone could advise me i would be most greatfull

Thanks:o

BoGoF

That would depend on

a) only mortgage interest can be claimed - does your figure of £5641 include capital repayments
b) the remainder of the £5641 being allowable expenditure

antbann

hi bogof

thanks for getting back to me the figure of £5641 is a repayment mortgage

BoGoF

In that case you can only claim the interest

antbann

right thanks so il have to pay tax on the difference

BoGoF

Yes, but there's other expenses you can claim - insurance, agent's fees etc

Kopite1976

does anyone know where to find a list of the kind of things a landlord can offset?

Pennywise

Kopite1976 wrote: »

does anyone know where to find a list of the kind of things a landlord can offset?

HMRC website? A quick google search found the following which is a good start:-

https://online.hmrc.gov.uk/information/help?helpcategory=selfAssessmentFiling0910&affinitygroup=individual&helpid=PropertyExpenses