Will We Pay Tax on Rental Income from Flat?
Answered on 15 March 2019 by Nick Morrey
We live in a tied property and have bought a flat with a repayment mortgage for when we retire, if we rent it out until then, do we pay tax on the income?
Usually, yes you would pay tax on the income, however I would recommend that you check with a taxation specialist to see whether your tied accomodation makes any difference, and also the fact that the property will be your main residence when you retire.
Ask The Mortgage Experts answers are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them. We recommend you seek professional advice with regard to any of these topics where appropriate.