Buy To Let Landlords Heading for a Fall?
With just a few weeks to go until the impending increase in Stamp Duty Land Tax for Buy To Let properties kicks in, many investors are stampeding to buy and sell their properties to beat the deadline date of the 1st April.
Unfortunately what many have failed to realize is that just around the corner is another Tax Increase that may well decimate the Buy To Let landscape, leaving many thousands of landlords in a position where their investment will soon become an ongoing financial liability.
This situation stems from changes to the removal of mortgage Interest tax relief as announced by the government last year and due to kick in next April.
Effectively soon all private landlords will be taxed on their gross rental income and will initially receive a tax credit for the interest and this Tax credit will then subsequently be reduced to the basic rate of tax, at 20 percent.
Okay, so what does this mean for you. Very simply put this could see you losing money every single month, especially if interest rates begin to rise and house prices plateau or crash in value between 2017 and 2020, which some are already forewarning.
We recommend you do the maths quickly and make a decision before it’s too late for you and If you would like Us to Help call us and we can offer some of the best options available to you. Free of charge and no obligation!