Mortgage on home set against let property !!!????
The previous accountant of a new client of mine used to set off mortgage payments from my clients home against a let property that is mortgage free on the basis that the client used his own capital to purchase the let property, without that capital he would have had to take out a mortgage. The mortgage payments are therfore an allowable expense. Is this a valid assumption? If so, please could someone let me know which HMRC directive allows this.