Tax relief on loan when buying off-plan

by Readers Question

3 years ago

Tax relief on loan when buying off-plan

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Tax relief on loan when buying off-plan

If I have an existing rental business and I purchased a property off plan to add to my portfolio, with exchange in year 1 and completion in year 4. off plan

Can I claim interest on a loan to fund the deposit paid in year 1? If so, do I claim in year 1 (after exchange) or not until completion in year 4 when the property is first let?

Many thanks

Latic



Comments

Neil Patterson

3 years ago

Hi Latic,

How did you borrow the money? Was it from your existing portfolio?

latic smith

3 years ago

Thanks for your reply. It was from an unsecured loan.


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