Rental Income and Income Levy

R

random1

Guest
Apologies if this has been asked before but I've looked around and can't seem to find a direct answer for this.

1) Does the Income Levy apply to gross rental income?

2) If I have paye income and my gross rental income pushes me into the 4% bracket do I have to self-assess my whole income at the higher rate (less what I've already paid)?

Any help much appreciated.
 
1) It applies to current year rental income less current year allowable expenses but before any current or prior year capital allowances or prior year losses.

2) It's on the top-slice of income only.
 
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