Section 24
Section 24 also known as the ‘Tenant Tax’ was introduced by chancellor George Osbourne as part of the Finance Act 2015.
Section 24 also known as the ‘Tenant Tax’ was introduced by chancellor George Osbourne as part of the Finance Act 2015.
It basically removes a landlord’s right to deduct the majority of their finance costs, including mortgage interest and arrangement fees, from their rental income before calculating their tax liability.
It basically removes a landlord’s right to deduct the majority of their finance costs, including mortgage interest and arrangement fees, from their rental income before calculating their tax liability.
This means landlords have to pay tax on town the phe gross income they earn from a rental property.
This means landlords have to pay tax on town the phe gross income they earn from a rental property.
This can often lead to landlords entering a higher tax bracket.
This can often lead to landlords entering a higher tax bracket.
...So if you do have a morgage and own the property in your own name please get in contact to see how we can help
...So if you do have a morgage and own the property in your own name please get in contact to see how we can help