Scary things are happening to private landlords
Landlords! Do you remember this person?
In 2015, he decided to Abolish Tax Relief on BTL, (Buy-to-Let), mortgages from 6th April, 2017 and said only 1 in 5 Landlords would be affected.
This is simply Patent Garbage and it will affect Hundreds of Thousands of Landlords and Millions of Tenants.
He has basically introduced a Turnover Tax on bank loan interest payments.
But ONLY for BTL Landlords.
The Following are Exempt (For Now)
- Furnished Holiday Lets
- Housing Associations
- Limited Companies
- Big Corporate Providers – (his friends?)
The politicians are still sticking to their Press Office ‘Spin‘, but we are using a spreadsheet instead and are crunching the numbers.
They are so bad, they can cause ‘Instant Disbelief‘
Will you go bust?
Well to see who is right and who is wrong, just enter your own figures in this Estimator and see what happens to your Tax Position and your Tenants Rent.
The more money you have borrowed, the worse the changes will be.