A
Alfa1
Guest
Hi,
Planning on investing in an algarve property(Portugal). The total cost of the property(icl fees etc) is 255K. A few questions>>>>
1. If I borrow 255k from an Irish Bank, can I claim Mortgage Interest relief on the property in Portugal?
2. If I borrow 100k from an Irish bank and 155k From a Bank in Portugal - what is the mortgage Interest relief situation?
The bottom line is if I pull in 16k rent recieved per yr, what is the best solution to minimise tax exposure?
What are the allowable expenses/deductions?
If anyone has experience of buying in the Algarve, I would appreciate your advice.
Thanks
Planning on investing in an algarve property(Portugal). The total cost of the property(icl fees etc) is 255K. A few questions>>>>
1. If I borrow 255k from an Irish Bank, can I claim Mortgage Interest relief on the property in Portugal?
2. If I borrow 100k from an Irish bank and 155k From a Bank in Portugal - what is the mortgage Interest relief situation?
The bottom line is if I pull in 16k rent recieved per yr, what is the best solution to minimise tax exposure?
What are the allowable expenses/deductions?
If anyone has experience of buying in the Algarve, I would appreciate your advice.
Thanks