Whilst the mortgage market, and the wider UK housing sector, has been seriously impacted by COVID-19 in 2020, professional landlords are not standing idle. Many are taking advantage of the pause in purchase or remortgage activity to re-evaluate the way they run their rental properties, in order to maximise opportunities when the time is right.
The latest edition of our “Changes to UK tax relief on finance costs” for buy to let owners informs our brokers of the key considerations facing their buy to let clients regarding the tax changes.
Since 6 April 2017, restrictions to income tax relief available for finance costs incurred by individual landlords has had significant tax-cost and cash flow implications for buy to let landlords.
This has led landlords to reconsider the way they choose to run their rental portfolio.
The latest “Changes to UK tax relief on finance costs” guide provides detail in areas such as:
• Capital gains tax
• Stamp duty land tax (SDLT)
• Inheritance tax
• Income tax and corporation tax
• Annual tax on enveloped dwellings (ATED)
• Examples of corporate ownership tax position:
As one of our valued broker partners, we’re giving you exclusive access to this guide.
Remember - Individuals should always seek professional tax advice around whether the value of their estate can be reduced for inheritance tax purposes or for any other tax related matter. This guide and any of the information associated with it does not constitute advice.
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