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Athena007 | 09:20 Wed 03rd Aug 2011 | Business & Finance
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Does having a mortgage entitle you to any kind of tax relief?. I am having a mortgage and am paying a lot by pay of income tax. Was wondering if there is any sort of tax relief.
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Avatar Image ummmm
No.
09:22 Wed 03rd Aug 2011
Avatar Image VHG
You used to get tax relief on a mortage, many years ago.

But in the end people were making so much money on house prices rises it was felt tax relief as well was too much.

If you pay into a pension like AVC this comes off your salary BEFORE tax is paid (so £100 in your pension means a REAL £100 in your pension).

This will also reduce your taxable salary so may take you out of a higher tax bracket.
09:32 Wed 03rd Aug 2011

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