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Posted Fri, 11 Jun 2021 20:53:02 GMT by Mike
I am moving in with my partner and will be renting out my house. Whilst I can get 12 months consent to let, next year I'll need to convert my mortgage to buy to let and this will incur a £1500 early repayment charge. Is this tax deductible as it's solely for the purpose of my rental? Many thanks Mike
Posted Mon, 14 Jun 2021 13:32:58 GMT by HMRC Admin 18

If this charge relates to your rental property, it will be allowable as a Residential finance cost.

Thank you. 
Posted Wed, 12 Jan 2022 09:58:47 GMT by ISaadron
Hi, Which section do I enter this value into , UK Property 43? Thanks Ian
Posted Fri, 14 Jan 2022 09:50:58 GMT by HMRC Admin 20
Hi ISaadron,

Allowable finance costs will be entered in box 44

BIM45815 - Specific deductions - incidental costs of loan finance: expenses allowable

Thank you.

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