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linda_us, Master's Degree
Category: Single Problem
Satisfied Customers: 476
Experience:  A tutor for Business, Finance, Accounts and other related topics.
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Single Problem

I am thinking of buying a BTL property in Australia where I

am a citizen. I now... Show More
am a citizen. I now live in the UK and am worried that the new tax laws being phased in from 2017 will mean I will have to pay tax in the UK on the revenue with only a slight amount of the interest being tax deductible (the 20% tax credit).
Will the new UK BTL laws being phased in from 2017 also be applied to international property in my portfolio?
Submitted: 1 year ago.
Category: Single Problem
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replied 1 year ago.

This is your real issue or some kind of assignment? and also please elaborate The BTL property, thanks.

Customer reply replied 1 year ago.
This is a real question as I am considering buying a BTL property in Australia which will have a mortgage where I will be paying interest on this mortgage.
There are changes to taxation by HMRC in the UK to be phased in from 2017 where they will not consider the entire interest paid as being tax deductible (only a 20% tax credit).
My query is whether this same rule will also be applied to international property reported on my UK tax return.
F. Naz, B.Com replied 1 year ago.

Okay, I cannot provide the answer to this, thanks.