Section 24: mortgage interest restriction
5 min read · 2025-01-15
Section 24 stops individual landlords deducting mortgage interest as a rental expense; instead, they get a 20% tax credit calculated on the interest paid.
- Applies to individual landlords (not limited companies)
- Mortgage interest is no longer deductible from rental profit
- You receive a 20% basic-rate tax credit instead
- Higher-rate and additional-rate taxpayers lose the most relief