do we put down our mortgage on forms 2042/2047 ?

[mogs]

We have a mortgage with Credit Agricole bank and I'm not sure if this is right but someone mentioned that we get tax relief for having a mortgage?

If so, where do we put it on the forms and do we put the total amount of mortgage or the amount we pay annually?

Thank you, sorry if this is a silly question

[tuppence]

Hi,

I have a mortgage here in France and I do get mortgage tax relief but ONLY because I bought my house after May 2007 which is the date you need to be able to confirm to claim MTR. I recently received a letter from my mortgage company detailing the interest paid in 2009. I then put these figures onto my tax form and the percentage MTR I receive  (40% for the 1st year, 20% for the following 4 years) is worked out by the Impots and sent by cheque usually in August. Hope this helps,

tuppence

[Sunday Driver]

Just to add to what Tuppence has explained.

On your form 2042, go to the last point under section 7 - Intérêts des emprunts contractés pour l’acquisition ou la construction de l’habitation principale.

Your first year's interest goes in box 7VY (for the 40% allowance).  For the next four years, the annual interest goes in box 7VZ (for the 20% allowance).

As from 2009, if your property is eco-classified as exceeding the BBC2005 standard, then you get the full 40% tax credit for seven years.  In this case, you put the annual interest in box 7VX.