Renting property and TC
in Benefits & Tax Credits
4 replies 1.5K views
Hi there. Me and my family had to move to a bigger home and rent it out. We rent our previous property out now which has a mortgage. I don't know how to calculate this for tax credit. If Im getting rent do I take it off my rent for property Im in now hence Im not making a profit (our present rent is a lot higher than rent we are receiving off previous house) or will it be seen as a profit anyway? I have asked them but they aren't that sure themselves.
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