mortgage payment as expense for tax return

[Liudmila20]

Hi guys, anyone claimed mortgage as an expense in your tax return? I can only see expenses for remote workers claiming interest on mortgage as expense in google, but cant find anything about airbnb business. please share your experience. 

[Helen3]

Have a look at the HMRC website @Liudmila20  it will give you a list of allowable expenses. As you are only allowed to let a property for up to 90 days in London, if you are allowed to claim your mortgage it would only be for up to 90 days.

[Liudmila20]

thank you @Helen3 . My airbnb property is in Somerset. Not sure if HMRC website has list of allowable airbnb expenses...  

[Helen3]

No it has allowable expenses for any business. So just check on their website and you'll see if the expense you want to claim is allowable .

most are such as rubbish collect, utilities , insurance, cleaning products etc.

airbnb is simply a marketing channel . It's STR expenses/holiday let expenses you need.

as you've been hosting for two years surely you've filled a tax return before   

[Mike-And-Jane0]

@Liudmila20 You can only claim mortgage interest as an expense if you are a Furnished Holiday Let.  As this requires you to let for 105 days/year and be available for 210 then you cannot be one in London.

[Liudmila20]

thank you @Mike-And-Jane0 , my property is in Somerset. As airbnb considered holiday let, then I can only claim interest rate as expenses then.. I will try to find more about it online, if you have any online sources please would you be so kind to share? thanks!

[Mike-And-Jane0]

@Liudmila20 That's great. Go to gov.uk and search for Furnished Holiday Lets.  This will give you the criteria for being an FHL. Also worth knowing the income is pensionable.

I assume you are on business rates for the property?

[Rebecca]

Hey @Liudmila20, 

Some great advice/suggestions from @Mike-And-Jane0 and @Helen3 here! 

Did any of the answers below give you any clarity? If so, it's always a lovely gesture to mark it as the best answer. 😊