I declared an income of £1450 on my rental property for the year 2017-18.
I understand from the guidance on the Government website: (Please see link underneath, the section 'Property you personally own') that the first £1000 of income from property rental is tax-free. However, the taxman has taxed the entire amount of £1450. Does everyone qualify for the tax exemption on the first £1000 or have I been taxed as such because of my overall (salaried) annual income?
https://www.gov.uk/renting-out-a-property/paying-tax
Thanks
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