reph4444 Posted March 12, 2014 Report Share Posted March 12, 2014 Can i add the following to my Tax self assessment in the "Expenses for other property income" section ? Note: Arrangement fee and mortgage account fee were added to my mortgage Mortgage Fees:- Arrangement fee (+ to mortgage) Valuation fee Telegraphic Transfer Mortgage account fee (+ to mort) Lender Conveyancing Fee Can anyone also advise which section they should go under? i.e. Loan interest and other financial costs or Legal, management and other professional fees Link to comment Share on other sites More sharing options...
Richlist Posted March 12, 2014 Report Share Posted March 12, 2014 Can i add the following to my Tax self assessment in the "Expenses for other property income" section ? Note: Arrangement fee and mortgage account fee were added to my mortgage If those particular costs were added to your mortgage loan then you haven't actually incurred any expenditure so no you can't claim the costs. You can claim the interest payments on the loan though. Any other costs for getting a mortgage should be amortised over the term of the loan. I'd probably put the valuation fee & telegraphic transfer in sect 26 and the conveyancing fee in sect 27 once I'd amortised the figures so that I claim the same amount each year over the term of the mortgage. section 26....Loan interest & other financial costs section 27....Legal, management and professional fees Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.