When I bought my rental property it was with an interest only NatWest BTL mortgage. There was an initial arrangement fee which I offset against income for tax purposes.. Last year the initial 2 year tracker rate deal expired and I decided to go for a 5 year fixed rate. I paid a £1999 arrangement fee to the bank for this….
My question is whether I can deduct this 2nd fee against rental income in the tax year 2015/2016. I did not change the level of borrowing at all but paid the fee in full from our BTL current account.
Clearly I hope the answer is yes!
Thanks for your advices.