A “revenge eviction”, is when a landlord ends a tenancy or submits a section 21 notice after a tenant has complained to the landlord about a matter relating to the rented property. New rules came into effect on 1 October 2015, which affect how section 21 notices to end a tenancy can be used. After…
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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…
Individuals letting residential properties face a number of challenges especially in their tax position in coming years following announcement by Chancellor in 2015 summer budget. The major one is where high earning individual landlords would not be able to deduct 100% mortgage interest against their rental income for the purpose of calculating their tax liability….
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…