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  • RE: Rental income tax

    Thanks
  • Rental income tax

    I have planning to have an income from my second property and I am extremely confused about the amount of tax I need to pay. Here are some figures: Initial agent and renting cost: £1035 Total interest for 12 months period mortgage: £2194 Total mortgage (the interest already subtract ed): £5856 Total rental income: £13800 My current tax band 40% Can you calculate the amount of tax I need to pay please?