The past year has seen a number of announcements changing the way in which landlords are taxed on their property income. In particular, the letting of residential property will be adversely affected and following recent Budget announcements, George Osborne is making himself look like “the big bad wolf”.
Restriction on mortgage interest from April 2017
Perhaps the biggest change is to the way landlords claim tax relief on mortgage interest. We are finding that awareness of it, and how much damage it can do, is still not widely known.