Recent tax changes and regulations introduced over the last few years have made it a confusing time to be a landlord
While the changes in the new buy-to-let (BTL) tax system can be complicated, the changes haven’t yet impacted mortgage rates. Many landlords will still find owning a BTL property a great way to earn regular rental income, while also potentially benefiting from ongoing capital growth of the property.
With this in mind, landlords should think about creating a business plan when it comes to a BTL property. The plan should account for all tax implications, stamp duty charges and periods of vacancy at the property. Landlords should also seek advice from a professional tax adviser to understand how any tax and regulation changes might affect them.
We’d welcome lenders to have a more transparent approach with their BTL assessments to benefit the customer. There’s a number of ways in which they can achieve this.
