On the 6th of April 2017, the government changed the way landlords are taxed in the UK.

The changes will:

Finance costs won’t be taken into account to work out taxable property profits. Instead, once the Income Tax on property profits and any other income sources has been assessed, your income tax liability will be reduced by a basic rate ‘tax reduction’. For most landlords, this’ll be the basic rate value of the finance costs.

Who will the changes affect?

NOTE: These tax changes will not apply to landlords of furnished holiday lets and commercial properties.

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