Retired GP landlord

Can you solve an issue of keeping ownership of a surgery premises share in retirement and receiving cost rent income with tax relief on ongoing surgery mortgage interest payments? Is it correct that a GP's interest payments are no longer tax-deductible once they retire? I read somewhere that this is to do with the interest no longer being a business expense, so making retention of a premises share less financially attractive. Our accountants are treating a retired partner's surgery mortgage interest payments as tax-deductible against the rental income. I plan to retire soon and would like to do the same. I would hate to find out years down the line that this was an error requiring a large repayment to HM Revenue & Customs.

YOU NEED TO SUBSCRIBE TO VIEW THIS ARTICLE

Already subscribed? Log in here

Subscribe to Medeconomics

Sign up for a 14-day free trial

Please enter your details

Forgotten Password?

Forgotten password?

Having trouble signing in?

Contact our online support team at support@medeconomics.co.uk

[DAYS_LEFT] days left of your Medeconomics free trial

Subscribe now

Your free trial has expired

Subscribe now to access Medeconomics

"I did not have to think twice about subscribing to Medeconomics... I find this website the only place I can find an up to date and accurate database of fees"

Pratice Manager, Canterbury