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Loan vs Mortgage

Posted Fri, 10 Nov 2023 00:08:36 GMT by
When buying property to let (abroad), taking a loan (from a UK bank) to finance the purchase, is interest rate deductable (at basic rate) from rental income even if the loan is secured against a different asset (house in the UK)? The loan is in its entity used for the purchase abroad.
HMRC Admin 8 Response
Posted Mon, 13 Nov 2023 11:08:09 GMT by HMRC Admin 8 Response
Hi,
Interest and loan costs can be included In the SA105 box 26 under Non Residential Property Finance Costs.
Thank you.

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