PPR now an investment property....Q re int. relief

I bought a house about 4 years ago and lived in it, then I moved in with my partner and rented my PPR about 1 year ago.

I am filling in my tax return at mo and am trying to figure out the interest relief. ... as the house was my PPR I got mortgage interest relief deducted at source. My question is can I still claim interest relief when I calculate tax due on the property or is this double counting the relief....

I know I have to pay stamp duty on the difference ...can someone tell me if this is pro-rated...ie the claw back is 5 years so in this case do I only have to pay 2/5 (on basis house is rented 2 of 5 years within first 5 years)?

Thanks

strawberry75 said:

I know I have to pay stamp duty on the difference ...can someone tell me if this is pro-rated...ie the claw back is 5 years so in this case do I only have to pay 2/5 (on basis house is rented 2 of 5 years within first 5 years)?

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There's no pro rating of the stamp duty liability. You'll have to pay the full liability that an investor would have had to have paid on the same property 5 years ago when you bought it.

strawberry75 said:

II am filling in my tax return at mo and am trying to figure out the interest relief. ... as the house was my PPR I got mortgage interest relief deducted at source. My question is can I still claim interest relief when I calculate tax due on the property or is this double counting the relief....
Thanks

Click to expand...

You can only get mortgage interest relief when you are owner occupier called TRS
When renting you get relief for interest as a dedction when calcualting taxable rental income