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Payments when renting a fully owned property

As the owner of a property w/out a mortgage which I then rent out, what costs am I liable for on behalf of the tenant - I'm thinking especially of the Council Tax? If the property is my only one in the UK, what rate of tax am I liable for on a rental income of around 600-700 pounds / month?

Asked on Apr 27 2012, Renting in Ely | Report content

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  • It’s entirely down to you and what you arrange with your tenant, but normally the tenant would pay their own bills, council tax, contents insurance etc. As for tax on the rental income, you have to declare the income less any associated costs (agent fees, buildings insurance, maintenance costs etc) via your tax return and you will be liable for tax on the profit.

    Answered on Apr 30 2012, Report content
  • As Alexa states, the only thing a landlord is usually 'liable' for is the Building Insurance, unless he agrees otherwise with his tenant.

    Answered on May 3 2012, Report content

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