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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5940
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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Last year I paid off my mortgage early using my savings. Am

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Last year I paid off my mortgage early using my savings. Am I liable for tax payment
JA: Have you talked to a tax professional about this?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: No

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question.

Redemption of mortgage does not give rise to any tax liability.

Basically you are repaying the loan earlier than agreed terms.

I hope this is helpful and answers your question.

If you have any othe rquestions, please ask me before you rate my service – I’ll be happy to respond.

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