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Are capital allowances available on premises?

summereire · 2011-10-16 18:25:33

Hi, we're renting a premises at the moment so get to claim that amount - just wondering if we buy a premises what exactly can we claim? I understand the mortgage payment itself can't be claimed, but can some of the interest? What % and for how long? And are there capital allowances, or any other relief, available on the…

16-10-2011 6:25pm

#1

summereire

Registered Users, Registered Users 2 Posts: 299 ✭✭

Join Date: May 2010

Posts: 216

Hi, we're renting a premises at the moment so get to claim that amount - just wondering if we buy a premises what exactly can we claim?

I understand the mortgage payment itself can't be claimed, but can some of the interest? What % and for how long?

And are there capital allowances, or any other relief, available on the overall cost of the building (i.e. mortgage amount)?

Buying would be a good deal for us with property prices the way we are, but not if our taxes go way up cause we can't deduct.

Thank you for any ideas or insight on this.

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