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 ?
Ask the Tutor ACCA TX-UK
BPP practise kit - Danh
The notes do NOT say that mortgage/loan interest is a deductible expense - see Chapter 3 Section 3 page 17
aah got it , thanks sir
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