HMRC

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M
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I understand that I may be liable for taxation on the rental income when renting out my property.

What portion of rent is not liable for taxation?

Is it only that which covers the mortgage payment? Or will all my costs in relation to the property be free from taxation, ie things like ground rent, management company fee, insurance?

Do I need to make HMRC aware that I will be renting out a property and having income in relation to this, even if the rent which will come in will not cover all of my costs and so not be liable for taxation?

Thanks,

15/01/2010 00:00

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