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Tax Advice renting house
stevedrink
Posts: 6 Forumite
I have just bought a house for my son to get on the property ladder. He is renting it from me at cost and he intends to buy it off me in a few years.
I know that I can offset mortgage interest and other expenses against the rent but I also took a loan for the deposit.
Can I offset the interest on the loan as this is an actual expense ?
I obviously don't want to pay any tax as i'm doing this to help him out.
Thanks for the advice, searched everywhere and can't find a answer.
I know that I can offset mortgage interest and other expenses against the rent but I also took a loan for the deposit.
Can I offset the interest on the loan as this is an actual expense ?
I obviously don't want to pay any tax as i'm doing this to help him out.
Thanks for the advice, searched everywhere and can't find a answer.
0
Comments
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Yes you can without doubt, i actually do the same with one of mine.0
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