Do you pay tax on rental income even if it just covers your mortgage costs?

This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Mrs Turner Mrs Turner 1 year, 10 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #39156
    Profile photo of Carly C
    Carly C
    Member

    Do you pay tax on the income as a whole or just on an y profit you may make?

    #39304
    Profile photo of Mrs Turner
    Mrs Turner
    Member

    I think you only pay tax on any profit you make. So if the rent only covers the mortgage you won’t pay, but if you had no mortgage the rent would be classed as income and you’d pay tax on it

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.