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Posted Mon, 07 Oct 2024 15:50:23 GMT by ricon
I have a foreign property that I previously lived in as my primary home but I have rented it out. Prior to renting it out, I lived in it and had and still have a mortgage loan that I used to purchase the property for self-use many years ago. My question is: is the interest on this mortgage loan tax deductible from the time I rented out the property? Thank you.
Posted Mon, 14 Oct 2024 20:33:46 GMT by HMRC Admin 18 Response
Hi,

For more information, please refer to our Property Income Manual at:

Property Income Manual

Thank you.
Posted Tue, 15 Oct 2024 09:49:40 GMT by ricon
Thank you for the reply. However, I have been through the relevant HMRC web pages as well as the topics in this forum, but I have not found a clear answer to my question. Thus, a clearer answer (or a link to the web page directly answering the question) will be very helpful and highly appreciated.
Posted Tue, 22 Oct 2024 07:30:41 GMT by HMRC Admin 17 Response

Hi ,
 
Thank you your question. 

I can confirm that you can claim relief for the mortgage interest payments from the time you rented out the property.

You would need to declare this income on the Foreign pages of your self assessment tax return.

The cost of the mortgage payments would be entered at box 24.1 Residential Property Finance Costs  .

Thank you .
Posted Tue, 22 Oct 2024 11:08:44 GMT by ricon
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