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How do I show my property Finance costs

For the 2017 to 2018 tax year, you can only claim75% of the cost of getting a loan, or alternative
finance to buy a residential property that you let, and 75% of any interest on such a loan or
alternative finance payments.

On SimpleTax under Property Expenses,

 

Select BANK RELATED CHARGES

 

 

Add the expenses category LOAN INTEREST PAID

Enter 75% of the interest paid

 

Add the expense category Residential Finance costs not included in box 26

Enter 25% of the interest paid

 

 

 

The friendly way to do your taxes online.

SimpleTax automatically tells you what expenses you should be claiming, what you should watch out for and ways to lower your tax bill.

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