Partnership Property Finance Costs
For the 2020 to 2021 tax year, you can only claim 0% of the cost of getting a loan, or alternative finance to buy a residential property that you let, and 0% of any interest on such a loan or alternative finance payments.
1. Click on '+ NEW PAGE' and then select 'Partnership (SA104)'
2. Fill in the partnership details in the boxes provided and then click 'SAVE' at the bottom
3. Use the Pencil Icon to edit 'Income from Property (Box's 36 - 41.1)'
4. 100% of the finance costs should go in the Residential Finance Costs box 41.1
5. Click 'SAVE' at the bottom
Related Articles
SA106 : Residential Finance Costs: Property Abroad
For the tax year 6 April 2020 to 5 April 2021, the allowable costs of getting a loan or alternative finance to buy a residential property that is let ,plus any interest on those loans and alternative finance agreements is restricted to 0% of the ...
SA107 : Estate Income: Restricted Finance costs
For the tax year 6 April 2019 to 5 April 2020, the allowable costs of getting a loan or alternative finance to buy a residential property that is let, and any interest on those loans and alternative finance, is restricted to 25% of these costs for ...
SA106 : 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 ...
SA105: How do I claim for unused finance costs brought forward (BOX 45)?
1. Once you're on your property page, click '+ GROUP' 2. Select 'Mortgage interest & related bank charges' then click 'SAVE' at the bottom 3. Click on '+ ADD' 4. Select 'Unused Finance Costs Brought Forward (BOX 45)' from the drop-down list and enter ...
SA105 : How do I show my mortgage interest - Property Finance costs explained 2020 - 2021
How do I show my mortgage interest - Property Finance costs explained 2020 - 2021 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 ...