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PUBLICATION DATE:  APRIL 2018
PAGES:  151
EDITION:  5th
ISBN:  9781911020288
STATUS:  IN STOCK

The Big Landlord Tax Increase

How to Beat the Cut in Mortgage Tax Relief

By Carl Bayley BSc FCA and Nick Braun PhD

Note, this guide was previously called Landlord Interest

Many landlords will see their tax bills increase significantly as the tax relief on their mortgage interest is reduced further over the next three years.

This guide explains how the new rules operate and what you can do to beat the tax increase, including:

The Big Landlord Tax Increase is essential reading for:

The 5th edition was published in April 2018 and is completely up to date for the 2018/19 tax year.

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The Tax Change in a Nutshell

Starting in April 2017 tax relief on interest and other finance costs paid by residential landlords is being reduced over a period of four years.

This tax change is known as “Clause 24” or “Section 24” because it is contained in Section 24 of the 2015 Finance Act (No.2). 

Eventually landlords will not enjoy 40% or 45% tax relief on any of their interest payments. Instead tax relief will be capped at 20%.

The way the change has been designed means that many landlords who are currently basic-rate taxpayers will end up as higher-rate taxpayers, paying tax at 40%.

Many landlords will face additional tax "penalties" including losing their child benefit, losing their income tax personal allowance and paying tax at the 45% additional rate. In some cases the result will be a significant drop in income (50% in one of our examples).

The good news is there are lots of things you can do to reduce the tax sting!

What Information is Contained in the Guide?

Subjects covered include:

Click here to read the full contents listing and first section of the book

About the Authors

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Carl Bayley BSc FCA Carl began his career as a chartered accountant over 30 years ago and is now one of the country’s most respected tax experts. He is the Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and is also a member of the Institute’s governing Council.

Nick Braun PhD is Taxcafe's Managing Director and has been involved in the tax publishing world since 1989 as a writer, editor and publisher.

 

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