reph4444 Posted January 2, 2014 Report Share Posted January 2, 2014 Hope someone can help please I'm aware that I can recover the interest I'm paying on my mortgage for my buy to let property, however I'm not sure how I calculate this My mortgage runs from August to August and I only see an overall interest figure for that period. I assume my tax return needs to run April to April but not sure how I calculate that based on the info I have Any help much appreciated please Link to comment Share on other sites More sharing options...
Richlist Posted January 2, 2014 Report Share Posted January 2, 2014 As you may already know, you can only claim the interest payments not any capital repayment on the mortgage. Personally I convert the interest payments to a daily figure & then multiply by the number of days in the year. So,, for example you know your outstanding balance at the start of the mortgage year ( August in your case). You may be paying say, 3% for 9 months (273 days) & 2.5 % for 3 months (92 days) . If you have an accountant he will do it for you. Link to comment Share on other sites More sharing options...
reph4444 Posted January 2, 2014 Author Report Share Posted January 2, 2014 cheers as always Richlist So as long as I can show were I've got my figures from and how I calculated with some kind of receipt behind it I should be OK Link to comment Share on other sites More sharing options...
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