Tax relief on mgge interest

I do. :-)

Actually, the lender's annual statement *should* make it clear, though that doesn't necessarily mean it always will be.

In message of Wed, 16 Jul 2003, Sparky writes

The lender should supply a S352 certificate; if not, ask for one. It is issued after the end of each fiscal year, and shows the precise amount of interest you can claim against your rental income.

DF

Thanks guys.

I don't think, technically, it would apply, as the interest payments are now gross, with no deduction of tax.

In message of Thu, 17 Jul 2003, Doug Ramage writes

Also I was wrong with the form number - a S352 cert is for interest received, for interest paid it is a MIRAS5 - bit of a misnomer really since the acronym MIRAS no longer applies.

DF

So do I. But I was musing more on the current enforcement for producing such a certificate.

I recall a few years ago threatening court action for a recalcitrant lender who was under the delusion that a mortgage statement was adequate and was refusing to provide details of interest deducted.

But a mortgage statement *does* provide the necessary details. Or at least it would, if the period covered were aligned with the tax year. It's daft, really, that this is seldom the case.

Indeed, RR, that was precisely the problem.

I knew I was going to be psychic.