Offset of Rent paid V Rental income (residential)

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fearghalk

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As it's a few years since I practised income tax so please bear with me!

Q: If a PAYE worker rents accommodation and also has a house/flat that he/she owns and receives rental income from it, can any part of rent paid be offset against the rental income? They previously did live there but I doubt that's relevant now. My memory tells me no and that they can only claim rent paid tax credit against rent paid and must treat the rental income as normal less the obvious deductions. Am I correct? Thanks in advance.
 
The rent on a PPR can't be set against the rental income of a separate property that the owner rents out.

You are correct!
 
valparaiso said:
see post #1.
Click to expand...

I'm looking at it but I'm not seeing it!

I would think there are 2 main reasons why people live in a different property to the one they own

1. They own a small apartment which is practically unsellable and now have a family so want to live somewhere bigger

2. They bought a property somewhere but can only get work elsewhere and commuting isn't an option

I would say both are fairly common occurrences given the economic upheaval of the last few years
 
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