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Where Taxpayers and Advisers Meet

Historic Amortisation of Arrangement Fees?

solange
Posts:69
Joined:Wed Aug 06, 2008 4:00 pm
Historic Amortisation of Arrangement Fees?

Postby solange » Fri Dec 03, 2021 4:07 pm

Hi Everyone

Just a quick question. Since the introduction of s24 it is now my understanding that, in 20/21, no mortgage arrangement fees, tt fees can be claimed against, and amortised against, new mortgages/remortgages as allowable deductions over their lifetime.

However what happens to mortgages taken out years ago that I am still amortising arrangement fee costs against? Can I just carry on for the remainder of their lifetime

Many thanks for any advice!

someone
Posts:544
Joined:Mon Feb 13, 2017 10:09 am

Re: Historic Amortisation of Arrangement Fees?

Postby someone » Sat Dec 04, 2021 11:50 am

I don't know but is there any reason you think they wouldn't be treated the same as any other finance cost?

Rent received in one tax year but recognised in another pays tax at the rate prevailing rate for the year it is recognised.

solange
Posts:69
Joined:Wed Aug 06, 2008 4:00 pm

Re: Historic Amortisation of Arrangement Fees?

Postby solange » Mon Dec 06, 2021 11:38 am

Thanks for your reply someone.

Anyone else in a similar situation? Could you advise how you treated such costs? Really appreciate it!


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