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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5022
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have sold my property for £162,000 and awaiting completion

Customer Question

I have sold my property for £162,000 and awaiting for a completion date for next week. I am an Interest Only Mortgage for nine years. Can I claim back some of this interest through my taxes and hopefully get a refund?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.
You would only be able to claim interest on a home property loan,if it was a buy to let property and there was rental income received on the property.
Interest paid on residential properties for main residence do not carry any tax relief, I'm afraid.
I wish I could give you more favourable news - sorry.
I hope this is helpful and answers your question.
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