Finance costs

You are here : Member Forums Other Finance costs
This topic has been locked as no posts have been made within the last 90 days.
M
Member
2 Posts
0 Thanks
Hi,
Please could you help clarify something for me?
My accountant says that finance fees relating to a new purchase (mortgage arrangement fees, valuation fees, TT fees, Lender legal fees) are not allowable against income as they are capital and can only be offset against a gain following a disposal. He does, however, say that they are allowable against income if they are for remortgages (although we have never claimed and therefore I am now in the process of adding up all these expenses over the last 15 years!).
I recently read an article that said these expenses are offsetable against income even if they are related to the purchase of a new property.
The HMRC website is vague at best - any clarification you can offer would be very much appreciated.
Thanks.
13/04/2016 09:01

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Landlord & Investment Show
Martin Co
Envirovent
Landlord Broadband

Share this page