Tax on Rental Income
Posted on 15 March 2019 by John
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.
For more information on BTL properties and tax, please see our guide: BTL Tax
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We recommend you seek professional advice with regard to any of these topics where appropriate.