Theon H

Hi. I think our messages may have crossed. Please can you respond to my latest post. Thanks

I submitted my SA last week, but have subsequently spotted a mistake. I can't see any way of issuing a correction to this submission. Please can you advise how I can submit the correction. Thanks

According to the link, relief can be claimed for "finance costs" which are defined as follows... "Finance costs includes mortgage interest, interest on loans to buy furnishings and fees incurred when taking out or repaying mortgages or loans." Furthermore box 26 is labelled "Allowable loan interest and other financial costs". Per the above definition, mortgage interest is a finance cost and box 26 is for finance costs. I don't understand why are you advising that mortgage interest cannot be entered into box 26. This seems to contradict the definition above. Please can you explain. Perhaps you can can provide a link to a document that contains an explanation of the purpose of box 26 and what should be entered into this box? Thanks for your help.

As mentioned in my original post, I'm looking at the tax year 2019-2020. The link you've sent says that in this tax year, you can claim for 25% of finance costs. Does that mean that 25% of the interest paid should go in box 26 and 7% in box 44? Thanks.

Thanks. What should be entered into box 26 "Allowable loan interest and other financial costs" then?

I'm reviewing a 2019-2020 self assessment. £5857.26 of Mortgage interest was paid on a rental property. Please can you confirm the the correct way to report this is 50% (£2928.63) in "Allowable loan interest and other financial costs" and 50% (£2928.63) in "Residential finance costs not included in box 26" Thanks