Let to Buy Interest Tax ReliefMake Text Bigger
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.
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