It seems there is no end to the current flow of legislative changes which seek to impose additional tax burdens on landlords. From 1 April 2016 Stamp Duty Land Tax increased for additional residential purchases, followed by the abolition of wear and tear allowance and from 6 April 2017 interest relief restrictions will apply. Capital Gains Tax on the sale of residential property is also now set at a higher punitive rate.
Afford Bond have produced a comprehensive booklet which covers topical aspects of residential property ownership. It discusses the new changes and offers planning advice. Please contact either Julie Jarvis or Chris Regnauld to receive your free copy.