We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Residential property finance costs
JPin
Posts: 188 Forumite
in Cutting tax
Hi, I am doing my tax returns and wondered what this field relates to. Is it interest I paid on the mortgage of a rental property or on my own property?
0
Comments
-
It would never be on your main home. Do you rent out a property - you need to be careful into which box this is entered as relief is now only available as a tax deduction at 20% rate.0
-
Yes I rent out a property.[Deleted User] said:It would never be on your main home. Do you rent out a property - you need to be careful into which box this is entered as relief is now only available as a tax deduction at 20% rate.0 -
Well - if you pay interest on a loan associated with purchase of the property it goes into the box that you indicated.
0 -
As in the mortgage interest?[Deleted User] said:Well - if you pay interest on a loan associated with purchase of the property it goes into the box that you indicated.0 -
That is the main finance cost, yes, but it also includes remortgage fees, for example.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 347.8K Banking & Borrowing
- 251.9K Reduce Debt & Boost Income
- 452.2K Spending & Discounts
- 240.1K Work, Benefits & Business
- 616.3K Mortgages, Homes & Bills
- 175.4K Life & Family
- 253.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards