Hi Guys
I am new to the rental property business and I haven't yet filled-out a tax return detailing my property, so I want to get it right.
1. I purchased the rental property in part with a repayment (not interest only) re-mortgage on the flat where I live. Am I eligible to claim the interest paid on the re-mortgage against rental income received?
2. The rental property is in my legal name, but ideally I would like the income paid to me by my letting agent to be treated as received income to the property company I have registered as a business. Can I do this?
Any help Forum members can offer will be much appreciated.
Thank You.
I am new to the rental property business and I haven't yet filled-out a tax return detailing my property, so I want to get it right.
1. I purchased the rental property in part with a repayment (not interest only) re-mortgage on the flat where I live. Am I eligible to claim the interest paid on the re-mortgage against rental income received?
2. The rental property is in my legal name, but ideally I would like the income paid to me by my letting agent to be treated as received income to the property company I have registered as a business. Can I do this?
Any help Forum members can offer will be much appreciated.
Thank You.
