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Posted Mon, 01 Jan 2024 16:10:12 GMT by
Hello, I thought that mortgage interest had stopped being an allowable expense from 2020, but I now understand that it is possible to claim a tax credit of 20% on the interest element of mortgage payments (or % as appropriate from 2017-202). Please can you advise on the following questions - many thanks. 1) In completing my 2022/23 self assessment, can I use the box 'Unused residential property finance costs brought forward' to register the Residential property finance costs as yet unclaimed from past years or must I submit a separate claim for overpayment relief? (I realise now this year where to enter this information for 2022/23) 2) How many years is it possible to claim using either method? 3) Is there an alternative box on the Self Assessment that I should fill out? Many thanks for your help, much appreciated in advance.
Posted Tue, 09 Jan 2024 15:39:20 GMT by HMRC Admin 5
Hi

You will need to submit a claim for overpayment relief. The earliest year that can now be reviewed is 2019/20.
Once you have done this and the returns reviewed, if there is any unused residential relief at that point, you can then include it on future returns.

Thank you

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