Thanks for your answer. it is very helpful
I basically want to work out how much tax i would pay on my rental income.
What would be my tax implications in the following situation:
My salary: £84k/yr
My monthly mortgage repayment: £3k/month - this is an interest only mortgage
Potential Rental income from my property: £5k/month
Other potential tax deductable expenses (as per your email): £250/month
i hope that makes sense