Taxable Rent

mayo · Post by **mayo** » Tue Oct 07, 2003 8:08 am

Are we right in thinking that only the money that is left after mortgage repayment and running costs is taxed or is it taxed before.

Offshore Owner · Post by **Offshore Owner** » Tue Oct 07, 2003 9:51 am

Mayo - rent is taxable pre mortgage payment at 25%. Loan service charges are to the best of my knowledge not an acceptable expense although there was some debate a while back that perhaps the interest portion could be used to reduce the tax bill if the mortgage / debt was in the name of the company.