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Self-assessment rental income (rent expenditure will exceed income)
gymguy2017
Posts: 30 Forumite
in Cutting tax
I own a flat in Dundee and will receive monthly rental income from the tenants. I am moving away to Bristol and will be paying a landlord to rent a property while I stay in Bristol. Overall, I'm going to be paying more to rent my flat in Bristol than I will receive from my flat in Dundee. Does this affect my self-assessment tax return? Thanks.
0
Comments
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Rent you pay is a personal expense, and does not affect your self assessment. If your employment contract obliges you to work from home, there may be some deduction for that (£6 a week if you choose the easy option).0
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