Tax Return: what is mortgage interest?

scrub

I need to do my tax return and it's asking for the mortgage interest.

Is that just the monthly mortgage payment?

Brighty

Is this for rental income?
Only the mortgage interest is deductable, not your full monthly mortgage payment (unless you are on interest only)
You'll need to get the info from your lender. Ask them for a "Certificate of mortgage interest" for the relevent tax year, it used to be called a "Miras 5 certificate" some lenders still use that term.
You doing a paper return for 2016-17? If so you're cutting it a bit fine

TheCyclingProgrammer

scrub wrote: »

I need to do my tax return and it's asking for the mortgage interest.

Is that just the monthly mortgage payment?

Genuine question: how can you have a mortgage and not know what mortgage interest is?

scrub

Brighty wrote: »

Is this for rental income?
Only the mortgage interest is deductable, not your full monthly mortgage payment (unless you are on interest only)
You'll need to get the info from your lender. Ask them for a "Certificate of mortgage interest" for the relevent tax year, it used to be called a "Miras 5 certificate" some lenders still use that term.
You doing a paper return for 2016-17? If so you're cutting it a bit fine

It's interest only so I just put that then. I thought it was something along those lines but wanted to be sure as the explanation on the HMRC isn't very clear. Thanks.

I'm doing the return online but I need the it for a mortgage application as I'm a contractor.