Jasv001 S
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Income from Rental property
Hi HMRC, Can you advise me on a course of action for my Rental property please? Over last four years I have been paying tax on rental income from a property via a self assessment. During the last two years, due to an increase in my mortgage rates and the But to let mortgage type, all the rental income is going towards the mortgage interest - with no additional income being earned. Yet the way the tax is calculated on rental property, in the self assessment form, I am required to pay additional income tax on income which is non existent due to high costs. Can you advise please?