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Tax allowance for mortgage overpayments
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You are probably right Schwarzwald. 🤔 Sounds like fun but I would miss out on asking all you lovely people for helpful advice!Schwarzwald said:
You need to learn the basics of accounting incl the difference between income relevant expenses and mortgage repayments which is cashflow and balance relevant but not income relevantDippykat said:Hi, thanks for the advice so far.
Can I offset the overpayments against the rental income? So less 'profit' - does that work?0 -
Very kind of you to get back to report success, Dippykat; especially as I was so unkind about your stage name. Yes, I never used an accountant, even when I was self employed. Certainly not for a couple of rental flats. Saved thousands over the years! Best wishes1
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