Our rental income tax calculator takes into account the latest rules, including mortgage interest tax relief changes and allowable expense deductions.

• Allowable Expenses. Deduct qualifying costs like maintenance, insurance, letting fees, and utility bills from your rental income.
• Mortgage Interest Relief. Since April 2020, mortgage interest isn't deductible as an expense. Instead, you get a 20% tax credit on your interest payments.
• Property Allowance. If your expenses are less than £1,000, you can claim the £1,000 property allowance instead of itemizing your costs.

The calculator provides instant results and breaks down exactly how much tax you'll need to pay on your rental income. It applies the correct tax bands and accounts for your other income when calculating your tax liability.

Understanding the results

The calculator shows your taxable rental profit, the tax due on your rental income, and how mortgage interest relief reduces your tax bill. This helps you understand your actual tax liability and can be useful for financial planning.