02 February 2017
As you will be aware, there are many changes happening in the buy to let market since George Osborne’s Summer Budget. These changes are being phased in and will be fully implemented by 2020, these will have a significant impact on most landlords.
In April 2016 we saw the wear & tear allowance of 10% abolished. Investors are now only able to deduct the actual cost of replacing furnishings in the tax year of the replacement, providing receipts.
The tax relief that landlords of residential properties get for finance costs will eventually be restricted to the basic rate of Income Tax, this will be phased in gradually from 6 April 2017. More details to follow on this.
We have been working closely with the lenders to create a Buy to Let Matrix, this gives you a high level explanation of what the lenders are offering. It includes:
To view our Matrix, Please click here.