I'm a new individual landlord in England. Can I still claim mortgage interest relief on my buy-to-let property, or is it solely a tax credit deduction? What are the key distinctions for calculating my tax liability?
Quick Answer
Individual landlords in England cannot deduct mortgage interest from rental income. Instead, they receive a 20% basic rate tax credit on finance costs, impacting higher-rate taxpayers more significantly.
About This Topic
Learn about mortgage interest tax credit for individual UK landlords (post-Section 24). Understand the 20% tax credit, not deduction, impacting higher-rate taxpayers from April 2020.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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