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tax return


denverpre

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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.

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  • 4 weeks later...

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.

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  • 2 weeks later...

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

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  • 1 month later...

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

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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

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