Buy to Let BOMBSHELL
HOW THE RESTRICTION OF RELIEF ON BTL MORTAGE INTEREST WILL AFFECT LANDLORDS By now I am sure you are all aware of the buy to let “bombshell” within the Chancellor’s Summer Budget – the proposal to allow income tax relief on BTL finance costs at the basic...Summer Budget 2015 Property taxes
A brief summary : From 6 April 2016: Rent-a-room relief to be raised to £7,500 The 10% wear and tear allowance may be reformed (subject to consultation) From 6 April 2017: Higher rate relief on mortgage interest will be restricted for buy-to-let landlords. Rent a room...The Summer Budget
The Summer Budget was surprisingly jam packed of tax and relief changes that will affect businesses, many in a positive way, however, on some changes the jury is still out. The following is just a brief overview of the main items that I believe will affect SMEs and is...Personal tax changes from 6 April 2015
HMRC has kindly published a list of the tax changes that affect individuals from 6th April 2015. I have reproduced the list below. Individuals over the age of 55 have flexible access to their defined contribution pension savings. The Income Tax Personal Allowance...Budget Top 10 Highlights – ‘No giveaways or gimmicks’…..
Rate changes – the personal tax allowance will increase to £10,600 from April 2015 and by a further £200 a year for the next two years. The age related personal allowance will be removed completely from April 2016. The threshold for the point at which the 40p rate...
David K Crossley CTA, ATT
Member of the Chartered Institute of Taxation