Mortage is £305, rent is £450. Once letting agents takes their percentage we receive £385 so are £80 a month in profit.....should we declare this??
Im just wondering as we recently started getting tax credits and i dont remember being asked anything about other property.
There is no equity in the house, we are about £15k in negative equity which is the reason why we rent it out, we rent another property that we live in
Thanks
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Do i need to pay tax on rental income?
23 replies
Numbthumbs · 31/03/2013 14:01
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