It was for many years all too easy to get a buy-to-let mortgage and become a landlord but increased legislation, EPC ratings and the removal of tax incentives have seen many landlords abandon ship. However, it is the increase in interest rates which is cutting short many landlords' buy-to-let journey.
Corporation Tax From April 2023 Corporation tax will increase from 19% to 25% this will greatly affect Landlords with portfolios listed as Limited Companies. It is though still a cheaper alternative than paying 40% on profits in income tax if a higher earner. Plus you still benefit by offsetting mortgage interest
The hangover from 2020 is dragging on but for UK Buy-to-Let Landlords, it feels personal. The attached guide is a breakdown of some of the things to expect and prepare for this year. Searching for silver linings? Gone are the days when you could deduct mortgage expenses from a rental income. 2021
If the Office of Tax Simplification gets its way, Landlords could be hit with a ‘taxing’ Capital Gains bill
In case you missed this, back in November The Office of Tax Simplification published a report ‘simplifying by design’ that outlined a number of recommendations to overhaul Capital Gains Tax. I’m baffled about where the simplifying features lie within this but I do see how if some of their suggestions are