On Thursday 17 December, mydeposits will run ‘The Great Tax Debate’ webinar, aimed at helping landlords prepare for 2021, which it is thought could bring some of the biggest changes to tax in recent years.
England’s Government and its predecessors have clamped down hard on landlords when it comes to tax, despite it not being mentioned in successive manifestos. In April this year, landlords suffered a triple hit as three tax reliefs were axed or scaled back from the start of the new tax year. Mortgage interest tax relief was replaced with a 20 per cent credit, which has been phased in over three years, capital gains tax exemptions for ‘accidental’ landlords – those who held onto homes they once lived in, were reduced, and letting relief was cut.
Most landlords are now facing significantly larger income tax bills than they did 10 years ago and it is thought that there will be more in the pipeline when Rishi Sunak delivers his next Budget.
‘The Great Tax Debate’ webinar will reflect on the recent tax changes which have impacted landlords the most, and the panel will share their views and answer live questions from attendees.
The expert panel, hosted by Head of Property for Hamilton Fraser, Paul Shamplina, will include:
- John Stewart – Deputy Director of Policy and Research for the NRLA
- Mitch Young – Co-Founder of Fusion Consultancy and International Private Client Tax specialist
- David Coughlin – CEO of National Residential; Co-Founder & Board Member at The National Association of Property Buyers
- Nigel Lewis – Property Journalist and Editor
Ahead of the webinar, John Stewart, Deputy Director of Policy and Research for the NRLA, says:
“Residential property investment has become the Conservative’s ‘go-to’ sector for tax take. Over the last few years, we’ve seen restrictions on mortgage interest relief, differential rates of CGT and SDLT and loss of wear and tear and energy savings allowances. Rather than blanket increases and cuts in allowances, there is a need to get smart and use the tax regime to align investor behaviour with the Government’s desired policy outcomes for private renting.”
To register and attend ‘The Great Tax Debate’ webinar, please visit this link.