Property News · December 10, 2016

How a healthy buy-to-let profit could soon become a painful loss


Major changes to the way income from property rentals is taxed could see some people paying up to three times more. We do the mathsThe amount of tax owed by many buy-to-let landlords will double or even triple as a result of changes being phased in from April, it was claimed this week. Some landlords enjoying four-figure net annual profits could end up nursing losses – and if interest rates rise this will make the situation even tighter.It was in July 2015 that George Osborne mounted a surprise raid on mortgage tax breaks. He announced a cut in tax relief on mortgage interest payments for buy-to-let landlords, with the changes phased in gradually between April 2017 and April 2020. Continue reading…

Source : theguardian.com
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