MrsPeacock
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RE: Mortgage Early Repayment Charges on Annual Tax Return
Hi, I ceased having income from property in 2022/23 tax year. The repayment charge took place in that tax year when I sold the property. I have tried to ring HMRC but am left on hold so long that the phone line eventually cuts out. -
Mortgage Early Repayment Charges on Annual Tax Return
So last year I pulled out of the rental market and sold my sole rental property. When I was completing my Capital Gains tax paperwork at the time I spoke to HMRC on the phone and was told by the chap I was speaking to that I couldn't include the early repayment charge on my mortgage as a cost, but that I could include it on my costs for my annual tax return. I'm now completing this tax return and can't see where I would put this charge down, and I've now read conflicting guidance that says you can't include a mortgage early repayment charge at all so now I'm confused. Can anyone help please? Can I definitely include the early repayment charge on my mortgage as a cost and if so, where do I put it on my tax return? Thanks in advance!