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Posted Wed, 25 Oct 2023 07:34:03 GMT by
If I obtain a further advance on my main property to help fund the purchase of a holiday property (to be used as a holiday let meeting requirements as stated by HMRC), is the interest on this borrowing an allowable expense? In short, do you have to get a specific holiday let mortgage or loan for the interest to be used as an expense or doesn't it matter where the loan money comes from?
Posted Fri, 27 Oct 2023 10:57:29 GMT by HMRC Admin 20 Response
Hi Sarah Wise,
No this is not allowable as the mortgage is not against the rental property.
Thank you.


 

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