11:26 AM, 10th March 2015, About 8 years ago 18
I have been following this site for a few months now in anticipation of purchasing a BTL shortly. Just wondering when submitting your tax self assessment, would you also deduct overpayments to the mortgage from the income or is this solely applicable to the interest portion of the mortgage payments?
I also plan to open a seperate current account for all expenses/ revenue associated with the BTL…although unlikely, are there any preferential accounts for such purposes?
Ideally, I would continue using my Santander 123 account which gives cash back on utilities, council tax, etc but I would like to keep personal and business seperate (probably making a mountain of a molehill, but as a first time BTL I need to look after the pennies!) – grateful of any thoughts.
I will be posting a few other threads shortly looking particularly at the leasehold details.
Thanks in advance