Quote:
Originally Posted by spock
Thanks Tyke, that sounds reasonable. I'm renting to a friend who will only be charged enough to cover the costs, so no profit at all. Will I still be taxed on that money?
I realise you're not an expert but you do have some experience in the matter obviously.
Cheers,
James.
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Hi, As a UK citizen you still get your tax allowance so, if no profit... no tax. You just have to fill in a form before you go and one each financial year. We are in the same situation and I phoned iup the tax office who, surprisingly, were really helpful and knowledgeable. Good luck