higlufc Posted July 15, 2011 Report Share Posted July 15, 2011 just some advice, i was advised some time ago you payed tax at your tax rate {mine being %25} on profit you made out of renting properties. ive just filled my tax return out on line and made a small profit of £795 and had no tax to pay. can some one tell me what profit you can make without paying tax. Link to comment Share on other sites More sharing options...
Richlist Posted July 15, 2011 Report Share Posted July 15, 2011 Personal income tax rates in the UK are generally either 20% or 40%. Assuming you are not running your rentals as a limited company then.......your rental income after expenses is added to your other income from all sources......PAYE, self employment, investments etc. After deducting your personal allowances you are then taxed at your marginal rate. Link to comment Share on other sites More sharing options...
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