Is Buy to Let losing its appeal? Dean Wilson delivers a seminar on the current issues facing Residential Landlords.
Over recent years, many laws have been introduced for landlords of residential property, such as tenancy deposit protection, HMO Licensing and more recently, a requirement that landlords check their tenants’ immigration status. With further changes on the horizon, such as minimum Energy Rating requirements, it is important Landlords keep abreast of developments or face potentially severe financial penalties for non compliance.
Aside from ever increasing statutory compliance, Buy to Let investors were dealt a further blow by last weeks budget which may leave potential investors wondering whether property investment is still worthwhile. The Chancellor has excluded Buy to Let owners from the drop in capital gains tax for both higher and basic rate tax payers. Further, the Chancellor confirmed that the proposed increase in stamp duty land tax for those buying their second homes will go ahead from 1 April 2016, so Buy to Let Landlords will be paying an additional 3% per tax bracket in stamp duty land tax.
Also, potential investors should consider that from April of next year, changes are to be introduced meaning Landlords will not be able to deduct their mortgage interest payments from rental income before calculating their tax bill.
Earlier this month Dean Wilson LLP together with Hartley Fowler LLP delivered a seminar on the current issues facing Residential Landlords. Due to the overwhelming demand and positive feedback from those who attended, we will be delivering further seminars on these issues, so please contact us on firstname.lastname@example.org to register your interest in attending.