Latest posts by Steph (see all)
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- How Can Businesses Prepare For A No Deal Brexit Scenario? - November 21, 2018
Following 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.