I'm considering buying my first BTL property; does Section 24 mean I can't deduct any mortgage interest, and how does this affect my expected net rental income compared to pre-2017 rules?
Quick Answer
Section 24 restricts individual landlords from deducting mortgage interest from rental income, replacing it with a 20% tax credit. This reduces net income, especially for higher-rate taxpayers, compared to pre-2017 rules.
About This Topic
Section 24 abolished mortgage interest deductions for individual landlords since April 2020. Learn how the 20% tax credit affects net income and compare to pre-2017 rules.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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