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

Susan Smalley
Susan Smalley
14 Thanks
81 Posts
4 months 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!

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