Re-mortgaging: are expenses deductible?

[JDO]

I am planning to re-mortgage one of my BTL properties soon.

Can I claim my valuation fees and legal fees as a business expense when I submit my next tax return?

Any advice would be appreciated.

regards

John

[Tax Accountant]

The valuation fees and legal fees due to remortgaging are effectively costs of arranging finance and are therefore allowable against rental income.

These costs would normally not be allowable if they were incurred in purchasing the property.

Ramnik