Hi all,
I am sure this has been answered elsewhere but I am stuggling to make the search function give me the answer, so grateful for any input.
I am in the process of selling a property and will incur an early repayment charge (ERC) on redemption of the mortgage as a result of the sale. I would like to know is a mortgage ERC tax deductible for CGT purposes or is it subject to income tax? And if subject to income tax will it be deemed a financing cost therefore restricted to 20% relief for income tax purposes?
Many thanks
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