Tax relief on loan when buying off-plan

Tax relief on loan when buying off-plan

8:34 AM, 14th July 2015, About 6 years ago 2

Text Size

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

by Neil Patterson

8:36 AM, 14th July 2015, About 6 years ago

Hi Latic,

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

by latic smith

8:48 AM, 14th July 2015, About 6 years ago

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


Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

BECOME A MEMBER