Can I still deduct all my mortgage interest from my rental income for tax purposes, or has Section 24 changed that, and how does it now impact my payable income tax?
Quick Answer
Section 24 has prevented individual landlords from deducting mortgage interest since April 2020, replacing it with a 20% basic rate tax credit, increasing income tax for higher earners.
About This Topic
Learn how Section 24 changed mortgage interest relief for UK landlords since April 2020. Discover its impact on your income tax and how a 20% tax credit works.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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