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HELP, morage interest question

connor2425
connor2425 Posts: 6 Forumite
in Cutting tax
what exactly can be claimed on this? I kniow some kind of interst can go down.

my business address is my home, I also had a interest only morgage for half of the year? can this be claimed?

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    connor2425 wrote: »
    what exactly can be claimed on this? I kniow some kind of interst can go down.

    my business address is my home, I also had a interest only morgage for half of the year? can this be claimed?
    Yes but it's not really a good idea as your home may be then liable for some capital gains tax on the business portion of the property. What sort of amounts are you looking at claiming as an expense?
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • connor2425
    connor2425 Posts: 6 Forumite
    its 9 months at £586
  • connor2425
    connor2425 Posts: 6 Forumite
    I dont work from home to add, just a office, its just my business address
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    connor2425 wrote: »
    its 9 months at £586
    [STRIKE]It's not much so I'd go ahead and claim it as an expense.[/STRIKE]
    edit....
    connor2425 wrote: »
    I dont work from home to add, just a office, its just my business address
    Then don't claim anything....you have no additional expenses.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
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