BTL Clause 24 and Sharia mortgages

BTL Clause 24 and Sharia mortgages

12:09 PM, 13th November 2015, About 7 years ago 11

Text Size

How does Clause 24 impact on Sharia mortgages where interest isn’t paid? BTL Clause 24 and Sharia mortgages

Are Sharia mortgages exempt from clause 24?

If so is there a case for transferring to this type of mortgage or does this bring the proposed legislation into a religious and/or racial discrimination area?

Thanks for sharing your thoughts

Peter



Comments

Mike Tighe

20:43 PM, 21st November 2015, About 7 years ago

Yes Robert, you are correct that is what I meant- but I didn't get around to replying to Mark's comment as it did make me laugh at the thought an accountant getting in a muddle ! I guess we will probably have to wait until the the act has gone through to find out how it might be interpreted and whether this could be another unintended (or in George O's case maybe not!) consequence of a poorly thought through measure.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now