Jeremy N

I am currently living away from home for work and have rented out my solely-owned house whilst I am away. The house is mortgaged and my question relates to Mortgage Interest Tax Relief. My tenant moved in on 1st September 2022 and paid for one year's rental in two installments (September 2022 and March 2023) - I have thus received the entire rental income for that period in the tax year 2022/23 (net of agents fees etc). My questions are (1) Do I include all of the income in my 2022/23 tax return or just that portion relating to that tax year? (2) Can I claim Mortgage Interest Tax Relief in my current return for just the seven months of the rental that occurred in the 2022/23 tax year or can I claim all twelve months? If just 7 months, can I claim the remaining 5 months against rental income in the current tax year?

My son has a solely-owned property in England where he has lived since he purchased it; he owns no other property. Recently, he has temporarily moved to Scotland to work for a company on a degree apprenticeship for four years. Whilst he is away, he does not want to leave the property empty and so is letting out the house through an agent. When he ultimately sells the property will he be liable for Capital Gains Tax to some extent or does he get full Private Residence Relief? Thank you for your help.

Hi, My son has a solely-owned property in England where he lived until recently. He has now temporarily moved to Scotland to work for a company on a degree apprenticeship for four years. Whilst he is away, he does not want to leave the property empty and so is letting out the house. When he ultimately sells the property will he be liable for Capital Gains Tax to some extent? If yes, is there some way he can minimise this? Thank you for your help.