Individuals letting residential properties face a number of challenges especially in their tax position in coming years following announcement by Chancellor in 2015 summer budget. The major one is where high earning individual landlords would not be able to deduct 100% mortgage interest against their rental income for the purpose of calculating their tax liability….
"February 2016" Archives
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The wear and tear allowance will be replaced by a new system from April 2016. The past wear and tear allowance allows landlords to deduct (broadly) 10% of their rental income in calculating taxable profit to allow for wear and tear. This allowance will be replaced by a system allowing landlords of residential property to…
How to avoid Damp, Mould and Condensation What is Condensation? Condensation usually occurs in winter when warm moist air (humidity level) produced by ordinary activities such as showering or cooking comes into contact with a cold surface such as an external wall or window. The moisture laden air will remain in the house if there…
Care4Properties has prepared the following blog for landlord. The simple explanation of the Chancellor’s buy to let “bombshell” is as follow: The interest portion of the mortgage payment is currently allowed to be deducted from the rental income in order to calculate rental income and related income tax. The Chancellor is proposing that the landlords…