.......well, you're not alone, and you shouldn't have to go it alone either.  We'll provide as much support and guidance as you need to ensure you claim all the appropriate reliefs, and pay only as much tax on your property rental as you absolutely have too.  We'll advise on claimable expenses, jointly let properties, furnished holiday lets, changes to legislation and much more.  We can prepare property accounts and also complete your self assessment tax return for you.  You'll get peace of mind knowing we have all this covered for you.

So if you own a rental property and want to find out more about what we can do to help, please get in touch. We would love to hear from you, and can arrange a no obligation complimentary consultation to discuss your requirements in detail and determine what it is you need. Why not contact us today? 

Finance costs includes mortgage interest, interest on loans to buy furnishings and fees incurred when taking out or repaying mortgages or loans. No relief is available for capital repayments of a mortgage or loan.

Landlords will no longer be able to deduct all of their finance costs from their property income to arrive at their property profits. They will instead receive a basic rate reduction from their income tax liability for their finance costs.

Landlords will be able to obtain relief as follows:

in 2017 to 2018 the deduction from property income (as is currently allowed) will be restricted to 75% of finance costs, with the remaining 25% being available as a basic rate tax reduction

in 2018 to 2019, 50% finance costs deduction and 50% given as a basic rate tax reduction

in 2019 to 2020, 25% finance costs deduction and 75% given as a basic rate tax reduction

from 2020 to 2021 all financing costs incurred by a landlord will be given as a basic rate tax reduction

If you own a rental property and want to find out more about how this may affect you, please get in touch. We would love to hear from you, so why not give us a call to find out more about the accounting, tax, finance and business services we can offer?