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Insurance and Agent fees- Residential property

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  • June 10, 2020 at 2:49 am
    Insurance and Agent fees- Residential property 2
    AverageAndy
    Participant

    And similarly sir if i take a loan to pay my agent his/her fees and insurer the insurance coverage charge for my bought-to-let residential property, the finance cost are allowable only upto 25%+75%*20%?

    I understand that if I pay make the aforementioned payments from my own pocket, they will be fully deductible even in case of a residential property.

    June 10, 2020 at 5:15 pm
    Insurance and Agent fees- Residential property 3
    Tax Tutor
    Keymaster

    You are making a ridiculous suggestion that an individual would have to borrow to pay an expense – and you are failing to differentiate between the deduction for the expense itself and the interest expense incurred on a loan

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