Tax Return ye2018 checking Finance costs?
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I’m very confused with Section 24 Tenant tax. Please can someone clarify the simple profit calculation for a Buy To Let for YE2018
Rents received £30,000
Repairs & renewals £10,000
Mortgage Interest £10,000
So to the Layman the Profit is therefore £10,000 meaning tax at 20% i.e.
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