More than four hundred-thousand landlords (22 per cent)
who pay the basic rate of tax will be forced into a higher tax bracket from
April next year (2017) as planned changes to landlord taxation come in to
force. The changes mean landlords will no longer be able to deduct mortgage
interest payments or any other finance-related costs from their turnover before
declaring their taxable income. However, while 440,000 basic-rate tax payers
will be forced into a higher bracket, all landlords could be at risk of seeing
their tax liability increase regardless of their existing rate of tax. Read
more on the NLA website.
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