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Where Taxpayers and Advisers Meet

interest on BLT mortgage

impoverishedone
Posts: 1
Joined: Sun Apr 01, 2018 11:43 am

interest on BLT mortgage

Postby impoverishedone » Sun Apr 01, 2018 11:58 am

Can the interest paid throughout on a BLT mortgage be set against the eventual CGT liability?

wamstax
Posts: 1869
Joined: Wed Aug 06, 2008 3:39 pm
Location: Operate Nationally but based in Aberdeen
Contact:

Re: interest on BLT mortgage

Postby wamstax » Sun Apr 01, 2018 6:58 pm

Afraid not
regards and hope this helps
http://www.wamstaxltd.com
Operates Nationally with competitive costs
and email and phone contact can be obtained from website

wamstax
Posts: 1869
Joined: Wed Aug 06, 2008 3:39 pm
Location: Operate Nationally but based in Aberdeen
Contact:

Re: interest on BLT mortgage

Postby wamstax » Sun Apr 01, 2018 7:00 pm

Given that it was a buy to let I have to ask whether you have returned the rents received and if so was the mortgage interest not used to reduce the taxable property income .
regards and hope this helps
http://www.wamstaxltd.com
Operates Nationally with competitive costs
and email and phone contact can be obtained from website


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