Buy to let, what can i claim against tax?

There are several allowable expenses that you can claim against tax when owning a buy to let property. These allowable expenses can include interest on your buy to let mortgage, council tax, property insurance, maintenance and property repairs, and legal and management fees

The 2015 Summer Budget has reduced the amount of tax relief that is available for interest on buy to let mortgages from April 2017.
Prior to April 2017, tax is payable on your net rental income after deducting allowable expenses including mortgage interest. This meant that landlords paying higher (40%) or additional (45%) rate tax could claim tax relief at their highest rate.
However, from April 2020 tax relief can only be reclaimed at the basic rate (20%), whatever rate of tax the landlord pays. The rules are being phased in over 4 years commencing April 2017.

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I’ve just heard from my solicitor that he has the funds in from Interbay, had paid off our mortgage and is sending the balance on to me, which means that finally this is all over and  I can move on.  Thank you all so much for your help in arranging the mortgage, I am sure that my future plans will involve needing to arrange finance, and I will happily come back to you again.

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