Property News · March 23, 2017

Do I need to fill out a tax return if I buy to let without a mortgage?


I can afford only to rent in the area where I work, so I plan to buy a house for cash elsewhere to let to my sisterQ I have a query regarding home-owning and was hoping you could help. I have rented for my whole life and have never taken out a mortgage or owned a home. I am required to stay in my rented house for my job. However, I am now in a position to buy a house in a much cheaper area for cash, which I could rent to my sister. As I won’t be taking out a mortgage, am I still required to register for self-assessment? I will use the rent I receive from my sister to pay part of the rent on the property I live in.Of course, I know that it doesn’t seem to make sense to carry on renting myself while owning a house and letting it to another person, but I need to stay near to my work and simply could not afford to buy in the area I live. SQ Continue reading…

Source : theguardian.com
Read more…Do I need to fill out a tax return if I buy to let without a mortgage?

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