Further Advance on a property that is now sold.
Tax Planning and Financial

Susan Smalley
Susan Smalley
21 Thanks
131 Posts
5 years ago
0

Hi,
I took a further advance out on a rental property with sufficient equity in it, to help purchase a modest place in Spain.
I haven't been claiming tax relief on the interest as it was related to a property abroad.
We made a big loss on the sale & it will be very difficult to pay the advance off at the moment.
Is there any way that I can now claim the interest relief from this advance legitimately, against the rental property that it is attached to?? I am upgrading this & other properties eg new roof, kitchen etc at the moment so might have taken a further advance out now anyway.
I am assuming no but live in hope!

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £125 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.

Join Today

Have you forgotten your password?