Could I still claim tax deduction on the loan finance

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    #31
    For the record, the 4 properties, (including my own home) on which the finance was raised were all wholly without debt.

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      #32
      Originally posted by DPT57 View Post
      For the record, the 4 properties, (including my own home) on which the finance was raised were all wholly without debt.
      Yes, understood.

      As per a previous post, IMHO if you use the principal outstanding on the loan to finance your rental business then the interests continue to be an allowable expense.

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        #33
        That whols section of the BIM has been rewritten.
        I'd guess what was 42310 is now 37600
        https://www.gov.uk/hmrc-internal-man...anual/bim37600
        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).

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