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I would like to know that in Kaplan exam Kit for Q8 Leticia Stone they are deducting the loan interest from the rent but in Q71 Mice Ltd. They aren’t deducting the loan interest.
Can you please explain why is that difference between the two ?
Thank You.
Yes, I have the same question. In some questions they deduct the interest on the loan, but in the others they don;t. This is confusing.
I don;t have access to the question BUT a friendly reminder that ONLY interest on a loan related to the purchase OR improvement of a property will be allowable against rental property income.
Property business losses cannot be offset against other income or other gains.
Also it may be more beneficial to claim rent a room relief £4,250 than to claim the interest assuming the individual has let a room in their residence.
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