HankReardon
Registered User
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- 33
Looking for some direction if possible.
I'm a farmer and live on accomadation on the farm. My parents own the farm and accomadation and there is a mortgage on this accomadation. Interest is being paid on this mortgage by my parents as owners of the farm.
I've heard something along the lines that the farm is entitled to mortgage interest relief on this accomadation. Do you know if this is codswallop? I think this is slightly different than a usual mortgage as the accomadation is needed on site to check animals at night. I'm told, for instance, that this is why it is exempt from benefit-in-kind.
Searched the forum but couldn't find an answer. Thanks for your time.
I'm a farmer and live on accomadation on the farm. My parents own the farm and accomadation and there is a mortgage on this accomadation. Interest is being paid on this mortgage by my parents as owners of the farm.
I've heard something along the lines that the farm is entitled to mortgage interest relief on this accomadation. Do you know if this is codswallop? I think this is slightly different than a usual mortgage as the accomadation is needed on site to check animals at night. I'm told, for instance, that this is why it is exempt from benefit-in-kind.
Searched the forum but couldn't find an answer. Thanks for your time.