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Interest on House Property

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bsai partish

166 Points Posted on 11 March 2021

for example if 'A ' has two self occupied properties and interest for constructing the houses was taken for before 1/4/1999 CAN THAT PERSON CLAIM INTEREST AS 30K FOR BOTH HOUSES OR FOR EACH HOUSE 30K i.e 60k if conditions not satisfied??

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Quick Summary

This discussion clarifies the interest deduction limit for self-occupied house properties. If you have two such properties and took out loans before 1st April 1999, the maximum interest you can claim as a deduction is £30,000 per property, not a combined £60,000. The deduction is capped at £30,000 for each property individually, provided certain conditions are met.