remortgage fees

  • Filter
  • Time
  • Show
Clear All
new posts

    remortgage fees

    are remortgage fees tax deductable?

    It depends what the remortgage fee was for (and assuming it's a BTL mortgage).
    If the mortgage fee is part of a capital purchase it's allowable against CGT when due, not income.
    If the fee is for a simple re-financing and against a property already part of the business, it's allowable against income (as are the other costs that would normally be capital related, like legal fees etc).
    If you're refinancing to make another asset purchase, it's probably not a revenue expense and is part of that capital transaction, and offset against CGT on disposal.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


      If the interest is deductible from rental income, so is the fee.


      Latest Activity


      • Reply to Rent 2 Rent Tax Return
        by jpkeates
        It's legal.

        If you're named as the landlord on the tenancy agreements, your business is rent to rent.
        The amount you pay your father is a business expense, so you'll end up paying tax on the profit, but you need to declare the full amount as income and the payment to your father as...
        03-08-2021, 14:44 PM
      • Rent 2 Rent Tax Return
        by dhoops97

        I'm currently receiving the rental income for my dads properties. I'm currently fully managing the properties for him and the tenants are paying the rent into my account. Once I receive the rent, I pay my dad a fixed amount and I keep the rest. Is this legal? And if so, do I pay tax...
        03-08-2021, 14:24 PM
      • Reply to HMRC Section 36 notice
        by Neelix
        If you were unemployed and receiving benefits and didn’t tell them you may need to brace yourself for contact from the DWP too...
        03-08-2021, 10:01 AM
      • HMRC Section 36 notice
        by KILOCHARLIE
        Wondering if anyone has any experience with one of these please?

        I received a letter from HMRC a few months ago stating they were investigating my property affairs. I was told I could provide documentation regarding it to help but if I didn’t wish then they would complete the check on...
        02-08-2021, 08:50 AM
      • Reply to Advice for DoT 100/0 or 99/1 is there a beneficial difference?
        by spikeg33
        I know it’s 1% difference but was really asking what the legal implications are of either transferring it into 100/0 or 99/1. I’m not an expert in this field in any way shape or form and am merely asking for advice....
        03-08-2021, 09:10 AM
      • Advice for DoT 100/0 or 99/1 is there a beneficial difference?
        by spikeg33
        I would appreciate some advice on getting our one rental property transferred into my beneficial interest as I have recently retired and now have the whole of my tax allowance to use against the rental income. I have researched and researched but would like some clarification about what to do . At present...
        02-08-2021, 14:07 PM
      • Reply to Advice for DoT 100/0 or 99/1 is there a beneficial difference?
        by theartfullodger
        Difference between 100:0 & 99:1?? 1%.
        03-08-2021, 09:02 AM
      • Reply to Advice for DoT 100/0 or 99/1 is there a beneficial difference?
        by spikeg33
        Thank you jpkeates for your advice. I will now proceed with 99/1 and happy that you have clarified the situation for me....
        03-08-2021, 08:51 AM
      • Reply to HMRC Section 36 notice
        by Section20z
        In your shoes I think I would be asking for a personal interview (maybe on Zoom these days) so you can find out exactly what they require. In my experience I have always found them reasonable and helpful and you can always ask for a supportive friend to also be present if you're nervous.
        03-08-2021, 08:06 AM
      • Reply to HMRC Section 36 notice
        by Gordon999
        It may help if your doctor can give you a medical letter stating approx date when you had a breakdown and suffered some memory loss.

        If your job income is below the personal allowance level each year during last 6 years , you are not owing unpaid tax .
        02-08-2021, 20:02 PM