To avoid getting into trouble, or losing money, it’s vital to keep up to date with the latest law changes when it comes to Buy to Let properties.
According to Accord Mortgages’ latest report: “Recent tax changes for Buy to Let properties have two major implications for landlords.”
Firstly, landlords need to take the changes into account when completing their tax returns.
Secondly, and possibly more importantly from the landlord’s point of view, their profit could be affected.
The report covers:
- Mortgage/loan interest
- Other expenses
- Accruals vs cash basis
- Repairs or improvements?
- Furniture and fittings
- Capital Gains Tax
- Furnished holiday lets
- Stamp duty
- Differences for companies
- Differences for trusts
While this guide was correct at time of publication things may have changed slightly so it’s always recommended that landlords speak with an advisor.
You can download the report here: https://info.accordmortgages.com/btl-tax-guide
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