S
Samuel5
New Member
Hi all
I am looking to purchase a commercial property to rent it to a business I have investment in.
I understand that mortgage interest for commercial property is still fully tax deductible unlike residential property.
However, I am remorgaging two other residential properties I own to finance this purchase and be down as a cash buyer.
Because the mortgages will be against the residential properties and not the commercial property can I still claim the interest relief?
My accountant said because I am using the mortgages to fund the commercial property it will be ok but I want to double check.
Thanks
Sam
I am looking to purchase a commercial property to rent it to a business I have investment in.
I understand that mortgage interest for commercial property is still fully tax deductible unlike residential property.
However, I am remorgaging two other residential properties I own to finance this purchase and be down as a cash buyer.
Because the mortgages will be against the residential properties and not the commercial property can I still claim the interest relief?
My accountant said because I am using the mortgages to fund the commercial property it will be ok but I want to double check.
Thanks
Sam