Tax on rent | AccountingWEB

Tax on rent

Mr A no longer has a mortgage and wants to retire to another part of the country.

He cannot, however, sell his house after months of trying so he decides to let out his house and rent elsewhere.

As he will be far away he will need it managed so he is out of pocket already; the taxman, however, makes it even worse as he has to pay tax on the rent he receives (less expenses which are not huge) but cannot claim tax relief on the rent he will pay.

This seems very unfair to Mr A; the question is, is there anything that can be done to mitigate this?

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Ford |
Ford's picture

If he doesn't move until he sells the old property...

George Attazder |
George Attazder's picture

As George eludes to.

justsotax |