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Another tax return question
clairet707
Posts: 385 Forumite
in Cutting tax
I had a random thought at some unearthly hour of this morning...
If I pay mortgage interest during the whole tax year but only get a tenant in a rented house from October
Do I declare the mortgage interest as a property expense for the whole tax year or just the months from October onwards?
If I pay mortgage interest during the whole tax year but only get a tenant in a rented house from October
Do I declare the mortgage interest as a property expense for the whole tax year or just the months from October onwards?
0
Comments
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Provided you were trying to let the property for the full year, all the mortgage interest would be allowable.0
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we were still living in the house till 1 august, it was on rental market from then onwards
couldnt find a tenant till october0 -
Then you need to apportion the mortgage interest for the let period.£705,000 raised by client groups in the past 18 mths :beer:0
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so from october? or august?0
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From whichever month it was available for letting.£705,000 raised by client groups in the past 18 mths :beer:0
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I'd recommend keeping some sort of proof that the house was available for letting during the period you couldn't find a tenant, such as a newspaper ad or agreement with a letting agency.
This may come in useful if the revenue query it in the future.0
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