Interest deductible on holiday let

I bought a property in Scotland in 2008 for my mother. She died two year later and it has been used as a short term holiday let ever since. I raised the capital to buy it with a further advance on my mortgage secured on my own home. The holiday let is registered for business rates (currently small business relief). Can I set the interest on the loan I took out to purchase the holiday let against profits, even if it is secured on another property? (my current home). I haven't been claiming finance interest to date but the cost of the loan has tripled and if I can, I'd like to do do so. If it is a legitimate deduction, can it be back-dated, and by how many years?

Hi colinbeckenham Erridge,
Thank you for your question.
With regards the mortgage interest, any expense must be incurred wholly and exclusively for the purpose of the rental business.
So long as you can demonstrate that you’re incurring the expenditure then it would be allowable.
Further information is available at:
Tax relief for residential landlords: how it's worked out
You can back-date your claim by up to 4 years so a claim for 2019-20 would need to be received by 5 April 2024.
Thank you.