I ceased letting a property in August 2016 and it is now up for sale. I want to know what the position is regarding allowance for mortgage interest and expenses which are still on going.
When I fill in my tax return do I enter the amount of interest and expenses calculated on the number of months the property was let or for the whole year?
I have already paid £360 and £420 respectively for Home Survey Report and Estate Agency Advertising with regards to the sale of the property. Can I allow all of that against tax?
There will still be on going expenses on the property during this financial year although I will not be letting it. Am I able to claim these expenses and the legal fees for selling the property when that occurs?
Any advice would be appreciated
Kennedy Gillies
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