reinhard
Apprentice
Joined: 12 Nov 2006
Posts: 6
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 Posted: 12/31/07 - 02:46 Post subject: |
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When it comes to tax on renting, you might think you need to pay CGT, or capital gains tax. However, it is usually applied to the income you get when selling your home. When you are renting the property, there will be no CGT applied, although you still have to pay the taxes on your income. Nevertheless, you will only pay it if your incomes exceed 4000 pounds. You can find a lot of additional information at www.direct.gov.uk/en/moneytaxandbenefits/taxes/
taxonpropertyandrentalincome/DG_4017814 |
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