The tax relief that landlords of residential properties get for finance costs is being restricted to the basic rate of Income Tax. This is being phased in from 6 April 2017 and will be fully in place from 6 April 2020. For the 2018 to 2019 tax year, you can only claim 50% of the cost of getting a loan, or alternativefinance to buy a residential property that you let, and 50% of any interest on such a loan oralternative finance payments. For the 2018 to 2019 tax year the 50% phased in element of the loan cost is dealt with by a reduction in the basic rate allowance.  On SimpleTax under Property Expenses, Select BANK RELATED CHARGES   Add the expenses category LOAN INTEREST PAID Enter 50% of the interest paid Add the expense category Residential Finance costs not included in box 26 Enter 50% of the interest paid