How rental income is taxed
Video: how tax on rental income is calculatedAs a landlord, you must normally pay income tax on any profit you receive from any rental properties you own. Put simply, your profit is the sum left once you've added together your rental income and deducted any expenses or allowances.Our short video explains how tax on rental income works.What counts as rental income for landlords?Your income is primarily the rent you receive but also covers any other payments from tenants for services normally provided by a landlord. These include:Cleaning of communal areasUtility...