Tax Insider Tip: Loan Interest Relief On Re-Mortgaging: HMRC Changes Guidance
A number of previous articles in Property Tax Insider have highlighted HMRC’s useful guidance in its Business Income manual at BIM45700, which looks at claiming tax relief when remortgaging or releasing equity from properties.
In the December issue of Property Tax Insider, Lee Sharpe looks at HMRC’s recent attempt to deny tax relief for loan interest.
This is a very important development for any landlord/investor who has invested funds into his or her business and then taken out loans to support the business while withdrawing the original capital.
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