I'm trying to decide on whether to sell or let my property. I'm currently considering letting and renting elsewhere in the UK. Prices in the area are rising above average and it looks like a nice asset to hang onto. I will have approx £6000pa after expenses, coming in as extra taxable income. However, this will effectively be nullified in the cost of renting somewhere else. There is also capital gains tax coming into play as it will no longer be my main residence. Just wondered if anyone had any experiences to share and/or advice or factors I had not yet considered. I keep things pretty frugal but this is likely to push me well over the higher rate tax threshold and might make it more of a burden to hang onto.
Any experiences or tips?
Any experiences or tips?
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