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tax Advise on UK personal tax

I am resident in the UK but have a house in the Isle of Man which I rent out. I pay tax on the rental income to the Isle of Man government. I have always avoided looking into what I should do wart UK tax, though some quick searches today suggest I should be declaring this income in the UK. All the mortgage payments and rental income stay in the Isle of Man. UK tax adviser I have just realized that with the new child benefit changes coming in I will probably go with filling in self assessment tax returns so I guess I need to address this issue. (I earn 54k hence fall between the 50 and 60k where it is worth me continuing to get child benefit on our 2 children). For the Isle of Man tax return I take off expenses and mortgage interest off the rental income and pay 20% on the profit. Last year mortgage interest was 3k, expenses related to maintenance (3k) and rental income 9.6k. I paid 20% of the profit (3.6k) to the Yom got so ended up paying around £700 in tax. My question is 1) when I declare this income to UK is I correct in saying any tax due to UK will subtract the amount I already pay to Yom got? So if UK want 1.4 k I only £700?

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