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Old 17.06.2012, 00:53
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Re: Tax implications of owning a holiday property?

Hi all... hope someone can help me... I live in the UK and have a small second home in CH with a large swiss mortgage (with nice and low interest rates). Each year I have received a swiss tax declaration which I filled out honestly and because of my large mortgage and modest income the payable tax was very low. Suddenly this year the swiss tax man has decided I can only use 10% of my mortgage as a deduction. This makes a significant difference to the tax bill! Are they entitled (legally) to do that?! Surely that means I have to pay tax on something that is not in fact mine?! What should/can I do?

Thanks in advance.
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