Renting out property has consistently made a lot of people a lot of money in the past, and if that concept appeals to you and if a good buy-to-let opportunity should present itself, grab it while you can.
Just don’t underestimate the importance to your financial viability planning of the Taxman’s cut of your earnings.
Of course professional advice on your specific tax circumstances is essential here, but it’s still important to understand the general concepts involved. What rental income must you declare? What expenses can you deduct for tax purposes? What about ring-fencing? What records must you keep? Read on for some insights…
