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CM accounts question

3 replies

lunavix · 07/07/2007 14:23

I know you can claim a percentage of your rent if you CM, but not for your mortgage - I'm assuming because the money is going towards a financial asset at the end.

However we have an interest only mortgage, so could that class as rent? One of the reasons we moved was the set up of the house for CMing.

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Are your children’s vaccines up to date?
Katymac · 07/07/2007 14:34

You probably need proffessional advise

You can claim a percentage of the interest but when you sell the house the money claimed against tax is eligible for capital gains tax

lunavix · 07/07/2007 14:40

why?
Isn't it just the same as paying rent, just to a bank instead of a landlord? We won't own any more of the house at the end than we do now.

OP posts:
Katymac · 07/07/2007 14:44

No because if the house increases in value you will benefit not the bank

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