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Interest relief when renting out home?

  • 18-06-2012 02:36PM
    #1
    cjbored
    Registered Users, Registered Users 2 Posts: 11 ✭


    I just wonder if I am missing something:

    I'm thinking of renting out my home on which I still have a hefty mortgage. A number of people on different threads have pointed out that you lose your mortgage interest relief (TRS) in that event. But why is this so relevant? Surely you can then put your mortgage interest down as an expense against the rental income? Or am I wrong? Thank you.
    Tagged:


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,161 ✭✭✭relax carry on


    cjbored wrote: »
    I just wonder if I am missing something:

    I'm thinking of renting out my home on which I still have a hefty mortgage. A number of people on different threads have pointed out that you lose your mortgage interest relief (TRS) in that event. But why is this so relevant? Surely you can then put your mortgage interest down as an expense against the rental income? Or am I wrong? Thank you.

    It's only 75% of the yearly interst you can claim as an expense. It's allowable against rental income only.


  • #3
    cjbored
    Registered Users, Registered Users 2 Posts: 11 ✭cjbored


    Thank you.


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