Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
The financial year end is almost upon us so I phoned HMRC and asked the question in claiming interest do I do the calculation myself – input 75% of my interest paid or do I input all the interest I have paid and their system will do the calculation. Apparently its the former.
So where is my 20% of my remaining 25% tax credit – do I work that out myself ? More alarmingly given the number of accidental / amateur landlords apparently out there oblivious to s24, how many will click on the icon next to the interest field to look at worked examples ? (This is what I was told).
Potentially there could be hundreds of thousands incorrect returns with over claimed expenditure.
How lazy can you get – can I get some service from HMRC?
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