Mortgage tax relief on BTL properties

[Malcolm Buggeridge]

Ok, tax relief is the wrong term for this.

I was referring to offsetting the mortgage costs against rent received .

Another question which I'm sure will expose me to the ridicule of Northern Blad - what are your views on holiday lets vs normal residential lets? Seems to be higher returns possible IF you get the punters in ie full up most of the summer and weekends rest of the year.

[BoredBloke]

Yes MIRAS is dead......watch out for the window tax though!!

[fullyautomatix]

Ok, tax relief is the wrong term for this.

I was referring to offsetting the mortgage costs against rent received .

Another question which I'm sure will expose me to the ridicule of Northern Blad - what are your views on holiday lets vs normal residential lets? Seems to be higher returns possible IF you get the punters in ie full up most of the summer and weekends rest of the year.

Jesus! Next you will want our help in wiping your arse as well.

[Mich the Tester]

Jesus! Next you will want our help in wiping your arse as well.

I think Gricerboy does that for him.

[IR35 Avoider]

Unless there's been a recent change I've missed, interest on a loan taken out to fund a business is a tax-deductible expense. Whether the loan is secured and on what property (in the case of buy-to-let business your own or the BTL one) should be irrelevant. For a loan taken out on your own property you may be called on to prove it was specifically taken out for the purpose of funding the BTL.