March 2023
Question:
As a company can you claim a deduction on mortgage interest payments?
Response:
If you are paying a mortgage on your rental property, you can claim a tax deduction for mortgage interest relief. The full amount of interest accrued (from 2019) is considered an allowable deduction.
Important to note: you can only claim for interest that is paid during the time the property is let.
If you bought the property through a company, you cannot claim a deduction for interest payments.
Response Credit: Brendan Allen FCPA, FCCA, CTA – Chartered Tax Advisers
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