Allow Landlords to evict tenants where there are 14 days rent arrears14:34 PM, 1st October 2020
About 3 weeks ago 97
I have had discussion with my new accountant in relation to Mortgage Product fees which had been incurred both during purchase and remortgage. My understanding is that, Mortgage Product fees forms part of phased Mortgage Interest Relief and should be input in same section on Tax return where you input your total Mortgage Interest costs under the section “Allowable Loan Interest and other financial costs” Accordingly my understanding is Mortgage products fees are equally impacted by section 24 as Mortgage Interest.
My accountant who seems to think that Mortgage product fees are not part of Section 24 and he argued that they should be placed under the section “Legal, management & other professional fees” Whilst I can understand that brokers fees and product fees should arguably fall under his understanding however I believe that they are part of section 24.
Any input will be greatly appreciated.
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