This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

adding explanatory notes .. what does the hmrc do ? if hmrc rejects your claim are you then put on a naughty list ?

rfullarton
Posts: 6
Joined: Tue Sep 15, 2009 11:27 pm

adding explanatory notes .. what does the hmrc do ? if hmrc rejects your claim are you then put on a naughty list ?

Postby rfullarton » Fri Dec 09, 2016 1:37 pm

hello

i am unsure about the tax treatment of interest applicable to do a rented property i own .. (separate topic in property tax section)

so my question is if i claim mortgage interest charges and mortgage fees against my rental income .. i will need to explain in the explanatory notes why i am attempting to cliam interest from another property vs my buy to let ... yes a long shot.

what concerns me is how does hmrc take that ... if they unfortunatley disagree fine but i am worried if go on some a list of scammers and they then go through past and future tax claims with a fine tooth comb ...

i am also need to relaiming redundancy payment that was taxed wrongly in this tax return ...

normally my tax return is very basic ... this one has become complicated

i beleive i ma being toitally upfornt with explantory notes re mortgage i/r deduction , but worried it opens a can or worms that is better not opened or will hmrc just reject my claim for that but not put me a baddies list !

thanks

maths
Posts: 7550
Joined: Wed Aug 06, 2008 3:25 pm

Re: adding explanatory notes .. what does the hmrc do ? if hmrc rejects your claim are you then put on a naughty list ?

Postby maths » Fri Dec 09, 2016 7:31 pm

so my question is if i claim mortgage interest charges and mortgage fees against my rental income .. i will need to explain in the explanatory notes why i am attempting to cliam interest from another property vs my buy to let ... yes a long shot.
Don't.

Either interest is or is not deductible. Trying it on will not be viewed favourably.

Get advice before filing.


Return to “Tax Investigations and Enquiries”

cron