David Hanson – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by David Hanson on 2014-04-28.

To ask Mr Chancellor of the Exchequer, how much tax relief was provided for mortgage interest payments by buy-to-let residential property investors at the (a) basic income tax marginal rate, (b) higher income tax marginal rate and (c) additional income tax marginal rate in (i) 2010-11, (ii) 2011-12 and (iii) 2012-13.

Mr David Gauke

The information is not available. HMRC’s administrative systems do not separately identify mortgage interest payments against residential property from other financial costs incurred across all types of property businesses (both residential and non-residential). Moreover property income is grouped with other income in the calculation of tax liabilities, and consequently the amounts of specific deductions effective against each rate of tax is not precisely defined.