icyflower11
30-06-2008, 00:45 AM
There is a good article on 'Expenses and allowances on income from property'. Please see below:
http://direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10014027
So for the first few years buy-to-let landlords don't need to pay much rental income tax, as they assume too much burden of paying service charges, interest on loans, ground rent and many others. I think this is a good news for many of the landlords who used the mortgage.
http://direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10014027
So for the first few years buy-to-let landlords don't need to pay much rental income tax, as they assume too much burden of paying service charges, interest on loans, ground rent and many others. I think this is a good news for many of the landlords who used the mortgage.