Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About 2 weeks ago 128
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.
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