There are far reaching and fundamental changes to the way rental property income is to be taxed which may come as a nasty shock to many landlords.
Some key changes
- Restriction of tax relief on interest
- Removal of the 10% wear and tear allowance for furnished lettings
- Stamp duty on transfers and purchases
Can you answer these questions?
- Should I own property individually or within a company structure?
- Will it cost me more to buy and own investment property?
- What’s the best way to structure my property when borrowing?
If not speak to your tax adviser now to see how these will affect you.
If you don’t have an adviser, speak to our tax expert for a free 15 minute consultation.