Buy to let mortgage arrangement fee
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Mortgage arrangement fee is a finance cost which is no longer allowable against rental income. It can be reported in box 44 if you are submitting SA105 tax return.
See advice notes for box 26 in
file:///C:/Users/other/AppData/Local/Temp/SA105_English_Notes-2021.pdf
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Buy to let mortgage arrangement fee
Can the arrangement fee for a mortgage renewal be classed as an expense on a self-assessment tax return? If so can you please advise which section to put the costs under?
Many thanks in advance.Tags: None
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Reply to CGT queryby Gordon999I believe your solicitor has to prepare a Deed of Trust which transfers 60 % interest in the property from wife to you.
You need to make clear to your solicitor that Deed is for HMRC only and not for registration at Land Registry
After signing the Deed , you...-
Channel: Tax Questions
01-07-2022, 16:51 PM -
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by vik238754Hello. Since 2013 my wife and I own a property as tenants in common where the beneficial interest split is 90% her and 10% me. We are now looking to sell the property. I have a large CGT loss and using the HMRC CGT calculator I have calculated that if I change the split to 70% me and 30% my wife...
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Channel: Tax Questions
23-05-2022, 19:37 PM -
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Reply to CGT queryby vik238754The existing declaration states 10:90 beneficial interest not legal interest
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Channel: Tax Questions
01-07-2022, 13:06 PM -
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Reply to CGT queryby Gordon999The Declaration changing the beneficial interest to 70:30 is prepared only for showing to the Tax Office .
The existing registration of 10% :90% legal interest at Land Registry does not change and the Mortgage Lender has already accepted this situation. .-
Channel: Tax Questions
01-07-2022, 12:18 PM -
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Reply to CGT queryby vik238754Hi. My solicitor has told me the declaration needs to be registered with the land registry otherwise there will be no effect of creating the declaration. Is this correct?
I have also spoken to my lenders and they have mentioned they will want a new copy of the title. I mentioned to them...-
Channel: Tax Questions
01-07-2022, 10:35 AM -
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by Steve Macey1.Pretty sure I read there is no limit! and to give kids the reigns if older brcause you cant transfer losses. perhaps was a different tax i read for though
2. Can utility bills during empty periods be claimed as expenses?
3. Think I read that I can either choose the 1k allowance or claim...-
Channel: Tax Questions
15-06-2022, 01:54 AM -
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Reply to Tax Exemptionby jp13abkMany thanks for clarifying doobrey...
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Channel: Tax Questions
30-06-2022, 11:05 AM -
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by jp13abkHello everyone,
If I were to rent out a spare room of my 2-bed apartment, would I be entitled to the £7500 tax-free renting income mentioned here: https://www.gov.uk/rent-room-in-your...-a-room-scheme.
Thanks in advance-
Channel: Tax Questions
14-04-2021, 19:37 PM -
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by rugbyroomDear Forum,
When I purchased a property back in 2007, I had an upstairs bedroom converted into a small kitchen and bathroom to create a self contained ground floor flat and a second kitchen / bathroom for the other 3 bedrooms upstairs to use.
The council had no issue with the...-
Channel: Tax Questions
28-06-2022, 11:16 AM -
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