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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax Declaration: Mortgage Interest
Pin_Head
Posts: 44 Forumite
I have a repayment mortgage. I am just about to fill in my tax return. this is my first time as a landlord.
With this type of product can I offset the interest paid on my repayment mortgage or does it have to be an INTEREST ONLY mortgage fr me to claim the expense?
With this type of product can I offset the interest paid on my repayment mortgage or does it have to be an INTEREST ONLY mortgage fr me to claim the expense?
0
Comments
-
You can offset the interest part of your repayment mortgage but you are still better off getting an accountant who deals in BTL matters as he/she will also help you claim any allowances you can have re repairs/etc.0
-
No it still applies to a repayment mortgage. BTLers tend to have IO mortgages because it allows them to offset a larger amount of expenses from their tax liability and limits their capital liability gains when they sell the property (I think!)"You've been reading SOS when it's just your clock reading 5:05 "0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards