cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Simplify payday and set payroll to run automatically on QuickBooks.Explore QuickBooks Payroll
SCS63
Level 1

What categories map to HMRC.s Self Assessment Box 44 Residential property finance costs?

I am a Residential Property Landlord and pay mortgage interest each month.

I have been unable to find an existing category or create a new category that maps to Box 44 (Residential property finance costs) on the Income Tax Self Assessment generated viewed in the Taxes section.

There is only Income Tax relief at the 20% basic rate tax on the value in Box44, so all the mortgage interest cannot simply be shown as an expense.

Is this something that is currently in Development?

1 REPLY 1
KayePe
QuickBooks Team

What categories map to HMRC.s Self Assessment Box 44 Residential property finance costs?

Hello there, @SCS63.

 

Please know that QuickBooks Self-Employed (QBSE) doesn't currently have a feature that automatically maps mortgage interest expenses to Box 44.

 

To ensure accurate reporting on your self-assessment, you can categorize the interest portion of your mortgage payment under a general category such as Other Business Expense or Rent or Lease Payments. For clarity, you can add a message specifying "Mortgage Interest – Residential Property (Box 44)."

 

If you need guidance on selecting the best category or assistance with the process, consider contacting your accountant.

 

You can reply to this thread if you have additional questions. We're here to help.

Need to get in touch?

Contact us