X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Property-a-holics

    Remortgage Fees

    Just had a valuation way below market value. Grrr but anyway my question is can you offset remortgage fees against your tax bill?
    0
    0

    Section 24 will restrict relief for finance costs on residential properties to the basic rate of Income Tax. This has been introduced gradually from 6 April 2017.

    Finance costs includes mortgage interest, interest on loans to buy furnishings and fees incurred when taking out or repaying mortgages or loans.

    https://www.propertytribes.com/what-is-s...35104.html


    0
    0

    Thanks Essex. So to summarise: yes but it’s not great...
    0
    0

    Unless i am confused, this is on the mortgage interest, i believe the question was on the fees. 

    So if i remortgage and pay 500 for a broker, and 1500 for the mortgage fee, can i offset the 2k on my tax bill?

    0
    0

    You can claim professional fees ie accountant

    But I think Finance fees come under S24 taxation



    0
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.