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Posted Sun, 17 Sep 2023 10:48:06 GMT by
Hello, I have a property in my own name. Would there be any situation where I would not get the 20% mortgage interest relief? I have used this link below and followed the example. The only differences with me is that the 20 % relief would come from the Property profits, as this is the lower amount. Also would there be circumstances where someone would pay no income tax? E.G the expenses were very high. https://www.gov.uk/guidance/changes-to-tax-relief-for-residential-landlords-how-its-worked-out-including-case-studies
Posted Mon, 18 Sep 2023 14:24:19 GMT by HMRC Admin 17 Response
Hi,

Thank you for your question as the link you included shows  if there is no profit then no relief would be due  relief cant be used to create a loss as it is restriced to your profit  and unsused relief can be carried forward to the following years  .

Thank you .

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