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Sam, Accountant
Category: Tax
Satisfied Customers: 14195
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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To complete my tax return correctly, do I deduct my mortgage

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To complete my tax return correctly, do I deduct my mortgage payments from my rental income to calculate my total rental income return?

Thanks question - I am Sam and I am one of the UK tax experts here on Just Answer.
You can deduct the interest element of the mortgage repayment made (not the capital element of the repayment) from the rental income.
So if a buy to let mortgage or an interest only mortgage this would in fact normally be the whole repayment, but if the mortgage is a normal capital repayment mortgage. then just the interest.
Let me know if I can be of any further assistance with your 2014 self assessment tax return
Sam and other Tax Specialists are ready to help you
Customer: replied 3 years ago.

Thank you prompt and excellent advice.Smile

You are very welcome, let me know if you require any further assistance, however, it would be appreciated if you could rate me level of service I have provided (or click accept)
Thanks and have a great weekend