Tax on rental income - different rate tax payers

robbie1980

OK so the personal allowance is not per year.....so your numbers make sense

4) I understand the requirements here. All saftey checks have been done and deposit in government scheme etc. I have only account for interest payments.

You asked what the profit was.gross 6900 less deductions which are valid reduce this to ~ 5500 on which i will pay tax.

It is let unfurnished, but does include all white goods. Could I claim for say a new washer if the existing one is not repairable?

My roof is original (1936) and has some minor issues. If this becomes worse over time, the most economical solution might be for a new roof. How do you stand offsetting items like these?

CLAPTON

you would be best looking at landlord boards

but basically all maintenance like things can be offset against rental income

but improvements can only be offset against eventual capital gains

obviously it isn't exactly clear what is 'maintence' and what is an improvement