Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
In short, I’ve just used the HMRC web chat to ask whether the rent element of a Sharia mortgage would be treated the same as interest from Apr 2017 or as a fully allowable cost. Their eventual response was:
“Based upon current guidance rents (if sub-letting) continue to be wholly allowable in the same way as legal costs etc for basic rate and higher rate taxpayers”.
I can paste the whole conversation if it helps. At the risk of mis-using legal expressions, does the HMRC chat operator put vicarious liability onto HMRC if I rely on something they stated (typed) that turns out to be incorrect?
It seems too good to be true but at the same time, it seems absurd that HMRC staff via HMRC’s official website could tell me what the rules are, then decide they didn’t mean it later on without consequences to them.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More