We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Tax on rental income
Andrew12_2
Posts: 4 Newbie
in Cutting tax
I am going travelling for a year.I intend renting my house out away to supplement my living/accomodation costs whilst away. As this is my sole residence and I will using the money to be pay rent abroad, am I liable for UK tax on the rental income.
0
Comments
-
I am going travelling for a year.I intend renting my house out away to supplement my living/accomodation costs whilst away. As this is my sole residence and I will using the money to be pay rent abroad, am I liable for UK tax on the rental income.
The short answer is yes, but you will be able to put rental expenses against the income from rent. This will include the mortgage interest ( but not capital) you pay on the property.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 243K Work, Benefits & Business
- 619.9K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards