Got Married some months ago and have rented out my house.For the past seven years I have rented out a couple of rooms and at the time of moving out had a couple of longstanding tenants so kept the arangement going by which i pay the bills oil/light heat/sky and charge a flat rate which is included in the rent.When it comes to paying tax will i be able to allow these expences against rental income which has these expences incoporated?
Also my intention was to sell before the bubble burst,when i eventually sell can i put the value of the property when i move out aprox 350k(since it was my primary residence) against the price i recieve for cgt purposes.
Thanks