denverpre Posted May 15, 2009 Report Share Posted May 15, 2009 Hi all! I am new to the renting game and also to this site. Please could you give me some advice as to whether mortgage payments are included in the calculation of any profit or loss in the calculation of your tax return. Obviously maintenance and repairs would be deducted but wondered if you include this payment as this is my first self assessment form. Thank you. Link to comment Share on other sites More sharing options...
partrim Posted June 10, 2009 Report Share Posted June 10, 2009 You can off-set mortgage interest, but not capital payments. Link to comment Share on other sites More sharing options...
Melboy Posted June 10, 2009 Report Share Posted June 10, 2009 Can I just add that the HMRC are now looking very hard at tax returns because it would appear that many new Landlords and probably established landlords, are claiming for whole mortgage payments when in fact it is only, as stated, the interest you can claim. Mel. Link to comment Share on other sites More sharing options...
gloryforixseal Posted June 18, 2009 Report Share Posted June 18, 2009 a friend of mine recently went through the same thing. you cannot file online if it is your first tax return. you can have the forms sent to you in canada if you want. you should also be able to have the forms sent to a friend in the NL. as your tax return is relatively simple, you should not have to pay much to have the forms filled in for you if you are not comfortable doing it yourself. Leeam Link to comment Share on other sites More sharing options...
plym77 Posted July 29, 2009 Report Share Posted July 29, 2009 There are various expenses you can claim. See the following link from the property manual: http://www.hmrc.gov.uk/manuals/pimmanual/index.htm Someone mentioned in a post in this thread Canada and NL. Can you clarify... do you live abroad? There are non-resident landlord issues regarding this which if appropriate, I can clarify. Regards Sherena Link to comment Share on other sites More sharing options...
plym77 Posted July 29, 2009 Report Share Posted July 29, 2009 There are various expenses you can claim. See the following link from the property manual: http://www.hmrc.gov.uk/manuals/pimmanual/index.htm Someone mentioned in a post in this thread Canada and NL. Can you clarify... do you live abroad? There are non-resident landlord issues regarding this which if appropriate, I can clarify. Regards Sherena Link to comment Share on other sites More sharing options...
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