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Mortgage interest tax relief for main property?

Mr_Senor
Mr_Senor Posts: 17 Forumite
First Anniversary First Post
in Mortgages & endowments
my mortgage is about £24,000 a year, which roughly £11,000 go to Principal and £13,000 is in interest.  Can I claim the interest on my tax return for my main property?  FYI  I'm on the second year and dind't knew anything about this.  

Comments

  • JMA74
    JMA74 Posts: 264 Forumite
    100 Posts First Anniversary Name Dropper
    No. Thats not a thing. 

    Claiming interest in the past used to be done for rental properties as the interest was a cost of running the business so was a legitimate business expense.  

    Your main residence isnt a business.

    If you use any part of your home for business then you can claim tax relief in different ways
    I am a Mortgage Adviser 
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dunstonh
    dunstonh Posts: 118,227 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 20 November 2022 at 10:10PM
    Assuming you mean your primary residential property when you say main property......

    MIRAS was abolished decades ago, so no.

    Only landlords can get relief on let properties, but that wouldn't be the main property but a let property.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • user1977
    user1977 Posts: 16,216 Forumite
    10,000 Posts Sixth Anniversary Photogenic Name Dropper
    Mr_Senor said:

    I'm on the second year and dind't knew anything about this.  
    It doesn't exist, which is why you couldn't have known about it.
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