Hello All,
I know this is a bit of a long shot - but that's how desperate this situation has become...
I would need to relocate for a new job oppertunity, but for reasons which are a bit complicated I can't sell my family home.
If I rent out my existing family home, is there anyway to offset the costs of renting another home against the rental income I would receive - the thinking on this would be that as without renting another home I couldn't rent out my existing home. Could second home rental costs be considered an allowable expense in order to rent out my existing home?
If not, and I suspect not, I will not be able to afford to relocate as the tax payable on the rental income I could expect on my existing house would make relocating financially impossible.
Thanks for any advice given.
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