TWD Accountants is one of the UK’s leading low-cost, fixed fee tax and accountancy services. We provide advice and guidelines on running your business, we help you understand how income tax works and what it could be costing you.

In conjunction with LandlordZone, TWD Accountants has put together a quick overview of how the Pre-Budget Report can affect Landlords in Britain.

Stamp duty – From 1st January 2010, stamp duty will become payable on properties worth between £125,000 and £175,000.

Mortgage Interest Scheme – For existing home owners who fall on hard times in the recession, the Support for Mortgage Interest scheme, which helps borrowers who suffer a sharp drop in earnings, has been extended by six months.

Boiler Scrappage – Each inefficient boiler adds over £200 to household bills and one tonne of carbon to the atmosphere. Therefore the government will offer of a £400 subsidy for up to 125,000 home owners who wish to replace their inefficient “G-rated” boilers with new A-rated models.

Those who benefit from the scheme, which runs for a year from early 2010, can expect to save approximately £235 a year in bills.

G-rated boilers are typically more than 15 years old. To check your boiler’s rating, look at its label or visit http://bit.ly/8kDSyR for a list of G-rated models.

Smart Meters & Warm Front Insulation Scheme In order to become more energy efficient and to cut emissions as well as household bills there will be a roll-out of smart meters, which will be completed by 2020, which will help families identify how to become energy efficient.

Improving home insulation is a major part of this. Already 235,000 homes have benefited from the Warm Front scheme for more efficient heating and insulation for the most vulnerable and from April an extra 75,000 households will benefit from an extension of the Warm Front scheme.

Wind Turbine & solar panels – From April 2010, people with a home wind turbine or solar panels who plug their excess power into the national grid, will receive on average £900 a year. This payment will be tax free.

For a full round up of the Pre-Budget Report, including:-
- VAT going back up
- One-off levy of 50% on any banker’s bonus over £25,000
- National Insurance rise
- Higher rate of income tax frozen
- 50p levy to pay for broadband?
- Inheritance tax threshold frozen until 2011
- Anti-avoidance measures.

For more information on tax planning for landlords visit
www.landlordzone.co.uk/tax or www.twdaccounts.co.uk/services/landlord-accounting

Call Free: 0800 093 9433