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Post Info TOPIC: Allowable expenses for renting a property
rachel_mclean


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Allowable expenses for renting a property
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I have somebody who rents out a shop, the people they rent to pay all the costs of maintenance etc and the landlord pays for nothing at all. 

Am I right in thinking they can claim the interest on the mortgage as an expenses? but not the actual mortgage payments.

 

Thank you for your help



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Rachel
MarkS


Expert

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Yes can only claim interest on mortgage as expense

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Truemanbrown


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One thing you should be aware of is the mortgage arrangement fee.

Normally, the taxpayer can make a claim for this fee on an annual basis over the life of the loan (could be very small, I know).



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