How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 7113
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I have a UK resident customer who has a buy to let property

This answer was rated:

I have a UK resident customer who has a buy to let property in Switzerland.
JA: Have you talked to a tax professional about this?
Customer: S
JA: Anything else you want the Accountant to know before I connect you?
Customer: did not manage to finish the question. This customer has a Swiss loan and pays interest on it which we claim against rental income. I believe that for the year to 5th April 2019 only 50% of this interest can be deducted for higher rate relief and the other 50% should have a 20% tax credit Is that correct?
JA: Which tax year is the tax credit for?
Customer: As I said for the year to 5th April 2019

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.

You are correct in your understanding that 50% of mortgage interest is allowable against rental income and the remainder 50% would have restricted relief at 20% when filing rental income on UK tax return.

My aim is to give you a professional service. I hope this is helpful and answers your question.

Please remember to rate my service by selecting the 5 stars at the top of the screen before you leave JA today. If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question. and other Tax Specialists are ready to help you
Customer: replied 7 months ago.
The software that I am using is denying the 20% relief on the disallowed 50%. I do not think that is right but they are generally right in what they do. Maybe a complication is that the tax payer also has a UK based buy to let property supported by a loan, The disallowed 50% of this has been admitted by the software. Is there something different t with foreign properties

I thank you for accepting my answer.

Best wishes

Customer: replied 7 months ago.
Thank you

My pleasure...