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Apologies for the thread hijack but the quality of advice looks very good and it seemed a good place to ask.
With regards property rental income, would the amount subject to assessment be gross income before any deductions for mortgage, insurance and repairs or would it be gross taxable income?
Also, on a slightly different note, would CMS take into account taxable benefits such as company car and private fuel into consideration in the CM calculation?
Thanks in advance.
Hi Dil
I've moved your post into its own thread, as it gets lost in another members thread. Hopefully someone will be along to answer your query.
Hi there,
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As far as I am aware, your income from your property would be considered after your expenses, so in the same way that a self empoyed income would be calculated, your gross income would be after your expenses, so your repairs and mortgage ect.
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I am not clear on how CMS look at company car though I think they just look at the wage but I'm not 100% certian
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GTTS
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