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Thread: Renting a House out and Tax
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Old 01-07-2008, 08:09
Peter W's Avatar
Peter W Peter W is offline
Blog Entry: What rate of VAT do I charge?
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It depends how much of your monthly mortgage payment is interest and how much is repaying the capital.

You only pay tax on the profit after all expenses, which usually includes mortgage interest, agency fees, repairs, insurance and utilities.
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