Budget 2015 Income Tax Relief

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AndyS
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Hello,

I am trying to understand the change in income relief. Currently we subtract the interest payment from the rent amount, minus expenses and get taxed on the remaining amount, at your rate of tax.

E.g 1000 rent - 500 mortgage & expenses = 500 * 40% tax = 200 tax to pay

How does the new system work?

Many thanks,

Andy.
09/07/2015 14:36

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