Hi there am wondering if anyone can advise me or direct me to a decent accountant with experience & knowledge of the UK property & tax laws?
Me & hubs have a house each back in the UK (our former homes, never purchased with investment in mind), both are rented out with rent paying the mortgage and not really any tangible profit at this stage.
ATO has taxed us on the "rental income" and it's a massive bill.
Feel like I'm really being screwed over here, and considering selling my little UK place even though it really doesn't have any equity in it, hubs in a similar position with his old house, but just wondered if anyone else has been in this position or knows of someone who might be able to find a way of keeping our houses without having this hideous tax bill every year?
Many thanks, Kat