9:22 AM, 20th December 2018, About 3 years ago 17
I’m very confused with Section 24 Tenant tax. Please can someone clarify the simple profit calculation for a Buy To Let for YE2018
Rents received £30,000
Repairs & renewals £10,000
Mortgage Interest £10,000
So to the Layman the Profit is therefore £10,000 meaning tax at 20% i.e. £2,000 is due.
But what should the calculation be due to the tax changes.
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