The First Cuts for Mortgage Relief Have Kicked In

Landlords across the country are going to be frantically trying to get their self-assessment forms done. They are going to get them done for the 2017-2018 tax year period and they have also been able to claim 100% mortgage relief interest for any rental properties they have. Nowadays however, they are only able to claim 75% of this. The remaining amount will then qualify for 25% tax credit and this is all due to the new regime. Those who work in lettings recruitment or even in estate agent jobs will know more than anyone how this is going to affect the local community.

They have argued time and time again that thousands of landlords will have to pay way more tax when it comes to the changes that have been introduced. If your landlord's clients and their properties are in a much higher price bracket will have to pay way more tax under the charges and this is only going to mean bad things for the future. As if that wasn't enough, they also won't get all of their tax back on their mortgage either. This is going to push a lot of landlords who have buy to let mortgages into a higher tax bracket. This is even the case if their income is not going to increase. The tax will be applied to turnover instead of profit and to cover these additional costs, they may even have to increase the cost to a tenant as well, and this could cause major problems for them and the people who rent the properties as well. Of course, if you are finding it hard to come to terms with this or if you need to know more about the rental changes that are happening then you can find all of the resources you need on the internet.


We use cookies to provide you with the best possible browsing experience on our website. You can find out more below.
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
ResolutionUsed to ensure the correct version of the site is displayed to your device.
SessionUsed to track your user session on our website.

More Details