• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 1 of 1
  1. #1

    Default Leting owned property - income tax question?

    Hi! I'm looking to move to another area of the UK for work purposes, but I already own a property so will be renting there and letting my current property (as much of a pain this is, the job has much better pay and commuting will cost just as much as the salary bonus is!). I was wondering how the money I get from this will affect my income tax? The money is going from letting my current property straight into the rent for the other one, so will I pay income tax on it even though it's basically immediately spent? Looking at this tax tool I will be paying quite a lot of income tax. I'm not quite sure how it works so was hoping someone here does/has done something similar and can let me know how things went with them, or someone who knows what to do can help me out. Any advice will be greatly appreciated!

    If I've missed any info out please let me know

    Thanks


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Structuring a co-owned property for future loans
    By Mattsaas in forum Finance, legal and tax (NZ)
    Replies: 1
    Last Post: 23-04-2018, 05:36 PM
  2. Home and income question
    By Winoryoulearn in forum Property Investment (NZ)
    Replies: 2
    Last Post: 11-11-2017, 07:46 AM
  3. Renting out a property owned by Family Trust
    By quebec in forum Finance, legal and tax (NZ)
    Replies: 18
    Last Post: 24-05-2014, 04:32 PM
  4. Renting out rooms in property owned by Family Trust
    By quebec in forum Finance, legal and tax (NZ)
    Replies: 19
    Last Post: 17-02-2014, 01:55 PM
  5. Buying a Property Owned by our LAQC?
    By lissie in forum Finance, legal and tax (NZ)
    Replies: 6
    Last Post: 13-08-2009, 10:43 PM
  6. Replies: 15
    Last Post: 04-05-2009, 08:56 PM
  7. Income tax question
    By Viridistori in forum Finance, legal and tax (NZ)
    Replies: 2
    Last Post: 27-03-2009, 12:35 AM
  8. Question on Home & Income
    By newbieinvestor in forum Finance, legal and tax (NZ)
    Replies: 7
    Last Post: 11-03-2007, 08:32 AM
  9. An income question regarding non-residents
    By Jaberwoky in forum Finance, legal and tax (NZ)
    Replies: 1
    Last Post: 31-10-2004, 09:21 PM
  10. Mangakino - Waikato
    By cube in forum General (NZ)
    Replies: 8
    Last Post: 21-12-2003, 07:52 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •