Martin

Okay that’s fine. Thank you for the information. I will revise my intentions.

Hello, I have been using a room in my own home to manage my property business affairs and would like to claim a fair and reasonable portion of my household costs as a legitimate expense to the property business. I am advised that I can actually claim for a portion of the mortgage interest on my own home where the room in question is, so long as it is in line with the proportional costs mentioned. I am using traditional accounting and not cash basis. I understand from reading HMRC manuals and also from the Finance Act Section 24 (272B) that the restriction on finance for interest relief only applies to amounts borrowed for the acquisition, adaption or construction of a dwelling. Therefore can you please advise where I would enter the costs associated with my own mortgage, as this is actually a revenue expense relating to clerical costs in running the property business from my home office? Thanks.

@BellaBoo I will take the authoritative response from HMRC over the anonymous post from a user that is completely unknown to me.

Hello, I’ve been reading over the property income manuals and from what I understand, finance restrictions are mostly related to the acquisition, construction or adaption of the dwelling house. My current laptop which I use for my property business is needing replaced. I am considering purchasing a new one on finance and am wondering which box on the self assessment to put the loan interest on? And also, I assume the loan interest would be expensed only for the accounting year while the entire purchase cost of the laptop could go down as part of the annual investment allowance in the accounting year which it was acquired? I am using traditional accounting (not cash basis).

Hello, As a self-managing landlord, I would like to undertake some training with ARLA/PropertyMark. I believe this would enhance my knowledge in key areas of renting property. Will this training be tax deductible? And if I took their exams to verify the knowledge gained, would that be tax deductible too? Someone mentioned that the initial training is not deductible, but refresher training is. However I am unable to locate any reference to this type of thing in the property income manuals. And cannot understand the logic. Appreciate any advice. Thanks.