The remaining 50% of the finance costs (the restricted finance costs’) from each residentialproperty business operated by persons abroad is used as a basis for calculating a reductionto your Income Tax.
To show this in box 13.1 of the SA106
Click on the Foreign Income Page
Click + INCOME
Select the income category Assets Transferred/ Income Abroad
Enter 25% of your Finance costs
For the tax year 6 April 2018 to 5 April 2019 the allowable costs of getting a loan or alternativefinance to buy a residential property that is let ,plus any interest on those loans and alternativefinance agreements is restricted to 50% of the ...
For the tax year 6 April 2018 to 5 April 2019,the allowable costs of getting a loan or alternativefinance to buy a residential property that is let,and any interest on those loans and alternativefinance, is restricted to 50% of these costs for each ...
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. To show this on SimpleTax, ...
Foreign Income: Residential Finance Costs
For the tax year 6 April 2020 to 5 April 2021, the allowable cost of getting a loan or alternative finance to buy a residential property that’s let, and any interest on those loans and alternative finance, is restricted to 0% of these costs for each ...
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