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Where Taxpayers and Advisers Meet

Overseas Property loan interest

tax-bill
Posts:88
Joined:Mon Sep 14, 2009 12:22 pm
Overseas Property loan interest

Postby tax-bill » Thu Jan 21, 2021 7:36 pm

UK resident has a property in France which is let out.
Is all the interest he pays on his loan an allowable expense.
Hope someone can help.

Tax-bill

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Overseas Property loan interest

Postby AGoodman » Fri Jan 22, 2021 10:23 am

No - see https://www.which.co.uk/money/tax/income-tax/tax-on-property-and-rental-income/buy-to-let-mortgage-tax-relief-changes-explained-atnsv0j6j782

I'm not aware of the position being different for foreign properties/income.

I've assumed he/she holds the property personally rather than via a company

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Overseas Property loan interest

Postby maths » Fri Jan 22, 2021 2:47 pm

Same rules for UK and foreign properties. In 20/21 tax year a 20% tax reducer applies.


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