Monthly Archives: August 2016

Changes To Tax Relief For Residential Landlords

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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FChanges to tax relief for landlordsollowing the changes to stamp duty on buy to let properties and second homes in April 2016, the UK Government has announced landlords will face another tax penalty with a reduction in the amount of tax relief they can claim on their mortgage interest payments.

Under the new rules, those paying higher rates of tax (40%) and top rate taxpayers (45%) will be restricted to the basic rate of 20% tax relief on the interest element of their finance costs. The change seeks to help homeowners compete with landlords in the property market.

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 Tax-Free Childcare For Working Families To Rollout by 2017

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Tax free childcare online accountThe government’s new tax-free childcare scheme is set to be launched in early 2017, the new scheme will primarily benefit working parents with children up to 12 years old.

Using an online account, the scheme will see the government pay 20% of all the money parents put towards childcare costs with a registered provider – enabling up to £2,000 yearly support per child.

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