tax on rental income to pay mortgage.

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  • Telometer
    replied
    Are you a non-resident landlord?

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  • theartfullodger
    replied
    would I have to pay tax on the rental income?
    We (?) pay tax on the profit (not the income): Profit after deducting approved expenses - including mortgage interest (but not mortgage repaymemts...)


    Cheers!

    Lodger

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  • Ericthelobster
    replied
    Only the interest component of the mortage though, not the repayment component (if you have a repayment mortgage rather than an interest-only one)

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  • mind the gap
    replied
    Originally posted by rosiem View Post
    Hi, if I rented out my property and the rental income didn't cover my mortgage payments would I have to pay tax on the rental income?
    I would have thought not, since you only pay tax on any profit you make from the rental income and you do not appear to be making any profit.

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  • rosiem
    started a topic tax on rental income to pay mortgage.

    tax on rental income to pay mortgage.

    Hi, if I rented out my property and the rental income didn't cover my mortgage payments would I have to pay tax on the rental income?

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