- This topic has 2 replies, 2 voices, and was last updated 3 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
- Posts
Ques – On 6 April 2020, Danh purchased a freehold house which was then let out. The total
amount of rent received during the tax year 2020/21 was £14,400.
(2) Danh partly financed the purchase of the property with a repayment mortgage, paying
mortgage interest of £10,000 during the tax year 2020/21.SO here as per notes it says that this is deductible from maine residence however here its nil and then dudcted 10k *20% from income tax liability why ?
The notes do NOT say that mortgage/loan interest is a deductible expense – see Chapter 3 Section 3 page 17
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.