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Mortgage interest relief is a tax relief based on the amount of qualifying mortgage interest that you pay in a given tax year for your principal private residence (your home). A tax year means the period from 1 January to 31 December.
Whilst tax relief on loans for private purposes is basically forbidden by the tax rules, there are ways to secure a deduction, if you can demonstrate that your finance costs are supporting a business.
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Lloyds Banking Group has announced its Halifax arm has agreed to buy Tesco Bank’s mortgage business for around £3.8 billion .
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The amount of tax relief landlords get on a buy-to-let mortgage interest has been reducing since 2017, and it will no longer be available in 2020. We help you calculate its impact on your tax bill.
The $750000 mortgage interest deduction helps families to save come tax season. You don't need to use it on your primary residence but you.
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