(especially in legal usage) a person who purchases or contracts to purchase; buyer. Origin of emptor. 1870-1875. 1870-75; < Latin: buyer, equivalent to em(ere) to buy + -tor -tor, with intrusive -p-. Examples from the Web for emptor.
Taxes. Because rent is considered income, it is taxable to the extent that your income is taxable. For example, if your income (including rent) minus any allowable exemptions and deductions is still taxable, then your rent is taxable. However, if you also use the rental property as your home, and you rent it out less than 15 days out of the year, then the rent you collect is not considered part of your income.
2. You need to pay tax on your rental income if you rent out a property in the UK. You may also need to pay tax if you make a gain when you sell residential property in the UK. If you live abroad for 6 months or more per year, youâre classed as a ânon-resident landlordâ by HM Revenue and Customs (.