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Refinancing Tax issues
Ericthered_4
Posts: 12 Forumite
in Cutting tax
Does anybody know if you can offset the refinancing of one buy to let property to buy another against rental income. The costs are professional fees (broker costs) and valuation costs.
Treat everyday as your last one on earth! and one day you will be right.
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Comments
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I can't see any reason why a refinancing cost can't be offset against the rental income of the first property.
I believe if you have more than one property then can all be grouped anyway so you can offset any loss you make on one property against the profit from another.Smile
, it makes people wonder what you have been up to.0 -
I agree with you but to refinance means a valuation of the property, professional fees and solicitors costs which in themselves are nothing to do with a rental business. Equally, they add nothing to the capital value of the house so they shouldn't go against capital gains.....still seems unclear to me.Treat everyday as your last one on earth! and one day you will be right.0
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