IR50 tax

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
Hi

I would like some advice. :?

I am liking of buying a property to rent out.

Can someone confirm that as long as a loan is taken out soley for the use of purchasing a property to rent out and to obtain the loan was against my exsisting home.

The mortage repayments would be interest only.

Can someone confirm that I am reading the text correctly and that it does not matter what type of
mortgage you obtain, as long as the repayments are interest only they can be
a deductable expense against the rental income.
Providing the mortgage is used soley to purchase the new rental property.

Regards

Bel

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    I replied before realising that the user had posted multiple threads.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Don't you just hate it when a poster does multiple postings?

    That and when a poster can't manage to get their post in the correct forum.

    :roll: :roll: :roll:
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Hi tlg, scotty


    sorry, have not been on the site before, what have i done wrong. Any pointers welcomed.

    Regards


    Bel
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    General forum etiquette is that it is considered bad manners to post the same subject more than once. It can get you banned on some forums (not here, I may add).

    Most posters will look at all the posts and those that don't, generally don't because they are unable to help or don't want to help.

    The best way of getting your question answered is to post it once on the most appropriate board.

    Hope this helps, and welcome, we are really a friendly helpful bunch :?
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Hi Bel.

    I replied to your message on this thread as no-one else had, only to find that you had several replies on your other thread - so in effect it was a waste of my time replying.

    I'm glad you have seen the error of your ways, and i accept your apology.

    Scott.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    General forum etiquette!!

    :oops:
    Any other useful tips, before I decide to post anything else.

    How do you know which forum (Thread ) to use?

    bel
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Hi Bel,

    I've read a few posts from forum members disapproving of multiple posts - but I used to do the same when I first joined! If you're not told how you supposed to know that it isn't approved of - the forums don't have instructions on them and it does seem to be an unwritten rule. Anyway, if you're not sure which board to post on I would just put it on the general boards because they will get replied to.

    Kind regards
    Steve

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Cheers Steve

    Or should I put peugeot.


    Bel
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    No problem Bel
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:IR50 tax

    Hi Folks.

    Just to disagree with one point - the terms and conditions are readily available - the link is at the top of the page.

    Scott.

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