Legal Expenses on RIP Mortgage

L

Luternau

Registered User
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I incurred some legal expenses relating to my RIP mortgage. Can I include this expense as qualifying expenses against rental income in the tax year for Income Tax purposes?

I am inclined to think the cost should be deferred and offset for CGT on sale of property (along with conveyance, stamp duty at time of purchase).

Advice welcome

Thank you
 
I cant really go into it, but it involved litigation against the bank for altering the terms of RIP loan.
 
Wow you went to court, that would be an interesting tale particularly if you won, which as it seems to have cost you it doesn't seem to have a happy ending.

I can't see how this cost would be allowable under either rental income or CGT.
 
I am happy with the outcome. I would see these as expenses incurred relating to the ownership of the RIP. It might be a grey area. What if I incurred expense regarding establishing title on a RIP, would that be a qualifying deductible for CGT in the same way legal conveyance cost would be?
 
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