Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
This question is for the tax year 2016-2017. My wife and I did a ‘Let to Buy’ on a flat we owned. At the time, we owed 125,000 to the bank and when we took out our buy to let mortgage we increased the borrowing to 250,000.
£125,000 we used as a deposit on our new home that we live in.
When working out my tax can I claim the full tax relief on Mortgage Interest payment, Mortgage arrangement fee’s, Solicitors fee’s.
Or as half the money was used for the purchase of my home I can only claim half as tax deductible on the items above.
Also going forward will this apply in subsequent years.
MattShow Form To Book A Tax Planning Consultation
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