Renting my house to rent elsewhere due to job

jellybabyblu | 19:47 Wed 16th Apr 2008 | Property

2 Answers

HI i have a job offer and will need to rent our family home and rent never to the job. Is there some kind of tax i have to pay....i dont know where to start so any help would be fab ....jacqueline xx

housing

Transfer House Into Wife's Name

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Velvetee

Yes, rental income is classified as taxable income by the Inland Revenue. You are supposed to inform them when you do your annual self assessment.

Ethel

You will also have to get consent from your mortgage company, if you have a mortgage, and inform your insurance companies.

Excellent basic advice here:

http://scotland.shelter.org.uk/advice/advice-2 488.cfm (if you live in Scotland)

http://england.shelter.org.uk/advice/advice-41 78.cfm (England and Wales)

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