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Taxation Changes

Landlords are choosing to sell property fast 

 Are you a landlord and fed up with the constant scrutiny of the buy to let sector? Buy to let landlords are set for substantial increases in the tax paid on rental property. 

Landlord buyer can make you an instant, no obligation cash offer for your property today. 

There have been various tax changes which have affected buy to let landlords. The aim of the government is to put up some barriers to buy to let and increasing tax revenues for HMRC. 

These tax changes for Landlords include: 

  • Buy to let landlords and second home buyers have to pay extra stamp duty of 3%‎. These changes came in to effect in April 2016. 
  • ‎A reduction In mortgage interest relief will arrive from April 2017.  This will see mortgage interest relief reduced to the basis rate of tax from April 2017. This system will be phased between April 2017 and 2020. 
  • Tax will be paid on turnover, as opposed to the difference between rental income and mortgage interest payments 
  • Landlords will pay tax on the full amount of rental revenue less tax relief fixed at 20 percent 
  • There is a removal of flat rate wear and tear allowance.
  • After what seemed to be an eternity of uncertainty, the 2018 EPC regulation changes have been finalised by the Department for Energy & Climate Change.

These changes will mean that it will be unlawful to let or lease a residential or commercial property with a poor EPC rating.  A property will need a minimum epc rating of E. 

Potential issues could arise after 1 April 2018 when trying to let a house/flat or renew a commercial lease with an EPC rating worse than an E.

As a result of these significant tax changes, every mortgaged landlord who pays 40 or 45% tax will pay significantly more.

Landlord Buyer are professional landlord and we buy any type of property with sitting tenants. 

If you want to sell a house, flat, bungalow or portfolio with sitting tenants then please contact us today. 

Our house buying service is confidential and we do not make contact with your tenants. 

We respect your privacy and appreciate that you might not want to disrupt your tenants.

Contact us today for a free no obligation cash offer

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