Pensions and Retirement Frequently Asked Questions

Will I pay tax on the money that I've borrowed?

Answer

Under current tax rules, if you borrow money on your house you don't pay tax on it and there is no stamp duty to pay.

But remember that tax rules do change from time to time. Any references we make to taxation are based on our understanding of current legislation and HM Revenue and Customs practice, which can change.

Borrowing may also impact state benefits, so ensure you seek advice to fully understand tax and benefit implications on borrowing.

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