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mortgage interest relief/ form 11

forestfruits · 2010-11-02 18:26:48

I`ve tried my hand asking the tax office for advice but they couldnt tell me what to do! Thought I`d as here-- I moved out of my house last year and rented it out- I was receiving mortgage interest relief at source which I didnt realise I had to cancel. So now Ive come to filling in a tax return Im a bit stuck- I am a PAYE…

02-11-2010 06:26PM

#1

forestfruits

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I`ve tried my hand asking the tax office for advice but they couldnt tell me what to do!

Thought I`d as here-- I moved out of my house last year and rented it out- I was receiving mortgage interest relief at source which I didnt realise I had to cancel.

So now Ive come to filling in a tax return Im a bit stuck- I am a PAYE employee but the tax office tell me I have to fill in form 11 not 12. They cannot tell me however how much of the mortgage interest I can deduct from the rent--

Any ideas?

Would I be right in saying TRS is calculated at 20% of interest?
Could I just calculate 55% of my total interst and deduct that> ( house was only rented from may so Im only entitled to deduct 75% not 100%)

Sorry for the rant Im just very stuck

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