The wear and tear allowance will be replaced by a new system from April 2016. The past wear and tear allowance allows landlords to deduct (broadly) 10% of their rental income in calculating taxable profit to allow for wear and tear. This allowance will be replaced by a system allowing landlords of residential property to…
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How to avoid Damp, Mould and Condensation What is Condensation? Condensation usually occurs in winter when warm moist air (humidity level) produced by ordinary activities such as showering or cooking comes into contact with a cold surface such as an external wall or window. The moisture laden air will remain in the house if there…
Care4Properties has prepared the following blog for landlord. The simple explanation of the Chancellor’s buy to let “bombshell” is as follow: The interest portion of the mortgage payment is currently allowed to be deducted from the rental income in order to calculate rental income and related income tax. The Chancellor is proposing that the landlords…
Demand for privately rented accommodation remains strong, despite the Chancellor’s attempts to slow that market by increased stamp duty on buy-to-let and second homes. However, C4P notes a continued increase of interest in properties outside London. Property prices in London have increased and are still increasing that many think it is becoming a bubble. On…