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Posted Wed, 20 Dec 2023 19:06:49 GMT by
I have a property that i plan to let, let's say property 'A'. I live in property 'B', on which i am making mortgage repayments. Can i claim the 20% tax credit for this mortgage (on property B) against the rental income on property A ?
Posted Thu, 04 Jan 2024 09:12:27 GMT by HMRC Admin 20
Hi Suma Rao,
No you can claim the interest on the mortgage that is on property A as a deduction but not the whole interest.
You can claim the lower of 20% of finance costs not deducted from income, that includes the mortgage interest on property A, the profits of the property
business or the adjusted total income.
Thank you.

 

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