Income from property

But you can deduct purchase and sale admin fees from capital gain.

It was many years ago, but when, as a tenant, I tried to take out buildings insurance for the property I was renting I was told that because I did not have an insurable interest it was not possible to do so.

Robert

Certainly. But then it is part of the acquisition cost, not an expense which can be offset against income.

In a sense it *is* an expense which can be set against income, but of course only the "income" represented by the capital gain included in the sale proceeds.

In message , Ronald Raygun writes

Yes, I have tried that with HMR&C's predecessor!

Tried what, exactly? Your tone suggests it was unsuccessful.

Yes, but they might charge. And without it you may have nothing in writing as to the interest you actually paid.

Surely the lender is by law required to send you free of charge a statement of interest paid.

Well if you think of it like that rental guarantee insurance is like a kind of MPPI for a BTL mortgage (and perhaps about as useful... but no matter). So perhaps MPPI in this case should really be offsetable.

Many people finance BTL with a mortgage on their residential home. As many landlords know, the rent does not always cover the mortgage.

I guess just someone on the end of the phone misreading their own guidelines....