Rental income: I am seeking for advice regarding tax return

Landlord Discussion
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can anyone advice me if it is the entire loan amount or the interest on loan secured to finance a buy to let mortgage (not the mortgage itself) that can be entered into the self-assessment tax return? Thanks for your anticipated responses.

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2

On your return you specify the annual interest amount and you can claim 20% relief of the interest.

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Thank you for the response, Mark10.

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Does this include the annual mortgage interests? Thanks once again

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Mortgage Interest goes in box 44 Residential property finance costs

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@Josephine4

You cannot claim any capital repayment component of the mortgage loan.

Nb Just like the interest payments, your mortgage broker and arrangement fees count as a finance cost and 20% tax relief can be claimed

Good luck

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Thank you so much, David240 !

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Thank you so much Mark10!

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I understood that this tax allowance was scrapped by the Government several years ago

That interest charged against a mortgage to buy a property was no longer allowed to be a tax free allowance.

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Flat 20% now as opposed to 100%

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Thank you for the response, David

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Thank you for the response.

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