Quote Originally Posted by shrek48 View Post
rented my place out to move with my job and rent down here to find the rent i get (which does not cover the mortgage)is taxable I get £525 tax man wants £100 of it.
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I'd check that Ash. If you are renting a property out you can offset a variety of costs as legitimate business expenses:
All mortgage interest
Property insurance
Letting management company charges
Cost of any maintenance
Accountancy fees
Cost of any replacement furnishings and carpets

I have rental properties and have never paid any tax on the rental income. During periods of higher interest rates I was making a loss after all expenses were taken into account, and even though I am making a small profit now, I am able to offset the current profits against previous years losses.

If I were you, I would seek professional advice