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Remortgaging a property can feeling like a taxable event, you've got extra cash in the bank and naturally you feel like HMRC are coming for their slice.
The good news is that in almost all cases there is no need to pay any tax when you refinance a property because there hasn't been a taxable event. The property hasn't been sold or transferred, as a result no tax to pay.
A mortgage is a loan, and borrowing money from a bank would never be taxable, as a result the mortgage capital repayments are also not tax deductible. For most landlords you will be on an interest only mortgage, meaning you won't need to worry about splitting out what is capital and what is interest.
Негізгі бет Do you have to pay tax when you remortgage a property? Property tax expert explains everything
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