My column has to be submitted by Tuesday so, by the time you read this, the budget will have taken place and we will all be digesting the Chancellors latest updates. However, we already know that people with Buy to Let properties will see their tax bill increase as the mortgage interest and other financial costs relief begins it’s phase out from April onwards. Expect this to be under the spotlight, although I don’t think there will be a back track. I’ll cover any other property finance surprises in future columns.
Whilst on this subject, we’re bringing back our popular ‘A PLACE FOR LANDLORDS INVESTOR PROPERTY’ show in April! This year it will take place at the Drill Hall,
Denne Road, Horsham where you can learn about the new tax relief changes, the new PRA rules surrounding Buy to Lets and legal entities as well as meeting many local specialist companies. These include AToM, Kreston Reeves Accountants, Coffin Mew Solicitors, Courtney Green Lettings, Leaders Lettings, Lady Decorators, The National Landlords Association, Durrants Removals and more! It is likely to be a packed event and we expect the free Seminars to be oversubscribed, so BOOK EARLY! To find out more, email email@example.com or call 01403 27 26 25. A Place For Landlords – 1st April – 9am to 2pm- Drill Hall, . Denne Road, Horsham RH12 1JF
And finally, staying with Buy to Lets, the minimum deposit can be as little as just 15% although, at this level there are fewer product options. With a 20% deposit, the number of products increases substantially, as do those with a 25% deposit, and so on. Rates in this sector are now so low that there’s actually not a huge gap between Buy to Let rates and normal Residential rates, as there used to be.
As the new taxation changes are implemented, we are seeing a lot more people purchase properties in a Limited Company name. This sounds complicated, but any good property accountant will be able to advise you at the early stages if this is more beneficial to you, rather than buying in a personal name (see the free seminar at
for Landlords!). The most important thing is to ensure any property investment outlay gives you the best return possible and professional advice should always be sought. A Place