We have a client who extended his mortgage by £75,000 in order to purchase shares in a close company. We have been apportioning the mortgage interest and claiming tax relief on the eligible (£75,000) part. He has now sold his property and purchased a larger property with a new and bigger mortgage. Is it possible to continue to claim interest relief on the grounds that he has "rolled over" that eligible part of the loan or has he effectively repaid the £75,000 loan for the shares?
04th Dec 2012 18:23