We live in tied accommodation, but have a flat with a repayment mortgage for when we retire. Do we pay tax on the rental income received?

Posted on 17 September 2013 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?

John,

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.

Regards,

Simon

simon.collins@johncharcol.co.uk

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