Buy-to-let landlords-the new rules on interest relief

September 07, 2017 | by Sian Kelly | No comments

With rising property costs and low interest rates, many people took out a mortgage to invest in a buy-to-let property. As long as property prices continued to rise and the tenants paid their rent, investors could make money from the rising market while the rent from the tenant paid off the mortgage

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How is rental income taxed on jointly owned property?

April 10, 2017 | by Sian Kelly | No comments

The situation where a married couple or civil partners jointly own an investment property that they let out is a familiar one, but when it comes to the rental income, special rules apply.

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Interest relief for lettings – the transitional period

March 24, 2017 | by Sian Kelly | No comments

The mechanism by which landlords receive tax relief for interest and other finance costs is changing from April 2017 … and not for the better. The current rules are more generous than the new rules in that they enable the landlord to receive tax relief at his or her marginal rate of tax.

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What is lettings relief?

January 20, 2017 | by Sian Kelly | No comments

Lettings relief increases the amount of the gain that is sheltered from capital gains tax when you sell a property which has at some time been your only or main residence, and in respect of which some private residence relief is due.

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Landlord–interest relief restriction: deduction v tax reduction

August 03, 2016 | by Sian Kelly | No comments

In his July 2015 Budget, the Chancellor dealt a blow to landlords with his announcement that from April 2017 relief for finance costs would be progressively restricted.

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Property Rentals – new relief for replacement of domestic items

July 05, 2016 | by Sian Kelly | No comments

Until the end of the 2015/16 tax year, landlords letting furnished properties were able to claim an automatic deduction of 10% of net rents to cover the cost of replacing fixtures and fittings. The relief was only available in respect of furnished lettings and it was available regardless of whether any money was actually spent on replacing items.

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