We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Remortgaging an existing buy to let mortgaged property

Hello

I have a existing BTL property that I have just remortgaged to a different building society without increasing the loan. I would like to know as a landlord what costs I can claim back against tax from the list below.

New mortgage building society valuation survey fee
Mileage to meet surveyor for valuation survey
Telegraphic transfer fee to redeem existing loan
Title documents copy fee
Arrangement fee
Application fee
Transfer funds to Optima Legal fee
Landlord administration fee
Exit fee from previous mortgage company

Thanks in advance

NJR999

Comments

  • payless
    payless Posts: 6,957 Forumite
    First Anniversary Combo Breaker First Post Name Dropper
    You can't claim anything back against tax... however you may be able to use some/ all of those costs to reduce your taxable profits

    see http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10014027 and the linked sections

    the items you list are not mentioned but would seem to fall within finance costs


    Loan interest and other financial costs

    Include:
    • the costs of obtaining a loan or an alternative finance arrangement to buy a
    property that you let
    • any interest on such a loan or alternative finance payments.

    but I would check with IR or an accountant- unless of course you have left your return to the very last minute??
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 346.1K Banking & Borrowing
  • 251.1K Reduce Debt & Boost Income
  • 451.1K Spending & Discounts
  • 238.2K Work, Benefits & Business
  • 613.2K Mortgages, Homes & Bills
  • 174.5K Life & Family
  • 251.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.