Are my Buy To Let profits taxable?

Yes. Any rental income needs to be reported to HM Revenue and Customs. You may have to pay tax on profit from renting property after deducting allowable expenses. Allowable expenses can include: maintenance and property repair costs, mortgage interest, and council tax. We highly recommend working with tax specialists as tax laws can change.

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I have to place on record that working with you guys is far more pro-active that the main banks - I'm finding them slower than ever in their response time and internal procedures, you are very refreshing, keep up the good work.

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