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  Anonymous 3 years, 1 month ago.

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  • #39156

    Anonymous

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

    #39304

    Anonymous

    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

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