S
Sally
Guest
Re:Irish Independent article 24/10/05 on interest relief.
I am in the process of purchasing a U.K.investment property and re-mortgaged an Irish investment property to pay the deposit,there will be no rental income from it(U.K.) in 2005.According to the newspaper article the extra repayments and interest can be treated as allowable deductions in calculating my profits from renting the Irish investment property.Is this correct?I thought this interest would only become tax allowable when I have a rental income from the U.K.property.
I am in the process of purchasing a U.K.investment property and re-mortgaged an Irish investment property to pay the deposit,there will be no rental income from it(U.K.) in 2005.According to the newspaper article the extra repayments and interest can be treated as allowable deductions in calculating my profits from renting the Irish investment property.Is this correct?I thought this interest would only become tax allowable when I have a rental income from the U.K.property.