Question:
I remortgaged the residential property that I live in to take out equity to pay towards my buy-to-let. Would this be a benefit tax-wise?
Arthur Weller replies:
If you look at HMRC’s Business Income manual at BIM45685, you can see that you can claim tax relief for the interest being paid on this loan. However, you must take note of the post-April 2017 rules for landlords claiming tax relief for interest to purchase residential property in HMRC’s Property Income manual at PIM2054, PIM2056 and PIM2058.
