For Self Employed - Is it my Gross or Net Income When Renting a Flat

Tenant Discussion
1

Hello everyone

Question about proof of income, Expenses and Taxes.

I’m a sole trader and I’m looking to rent a flat when the requested income in a minimum of £50,000 annually.

When the letting agency doing the reference and credit check, will they consider my gross annual income, or is it £50,000 after the Expenses and Taxes?

Or if (for example) expenses are £20,000, My income is gross £30,000 and I will fail the application?

Thank you for your help

Michael

1 Like
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makf2403…I am a sole trader., Its gross income before tax is paid. but does not include business expenses IE. it is NOT your annual turnover. If you have a years accounts that will be helpful