Mortgage interest is unclaimed from 1 April 2025 on-wards
Property purchased after 27 March 2021:
Interest on properties purchased after 27 March 2021 can only be claimed until 30 September 2021, after this no deduction of interest against rental income is allowed at all. This includes interest on loans taken for maintenance or improvement of your property.
Property purchased before 27 March 2021:
The reductions will be implemented in phases over the next 4 years for existing loans established before 27 March 2021:
| Income year | Allowable Deduction |
| 1 April 2020–31 March 2021 | 100% |
| 1 April 2021 – 30 September 2021
(transitional year) |
100% |
| 1 October 2021 to 31 March 2022
(transitional year) |
75% |
| 1 April 2022–31 March 2023 | 75% |
| 1 April 2023–31 March 2024 | 50% |
| 1 April 2024–31 March 2025 | 25% |
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