Property

Tax bombshell for property investors

Pattrick Smellie
Tue, 23 Mar 2021

Pattrick Smellie
Tue, 23 Mar 2021
The government is delivering a shock to residential property investors by removing one of the longest standing tax loopholes at their disposal.Up until now, property investors have been able to reduce their tax bills by deducting mortgage interest payments against their rental income.In four days’ time, from March 27, that will no longer be allowed for newly purchased properties.And over the next four years, what the government is calling a ‘loophole’ will be phased out.The move is by far the most significant element of today&...

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