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[16 Nov 2015 | Comments Off on Buy To Let – new tax rules | ]
Buy To Let – new tax rules

Two new sets of rules come into force over the next few years.
No more “10% Wear and Tear” allowance
The allowance is being abolished. Starting on 6 Apr 2016, landlords who rent out furnished accommodation will no longer be able to claim the flat rate 10% allowance every year, and instead will be permitted only to claim the actual costs of like-for-like renewals and replacements.
Restriction of loan interest relief
Over a three year period, starting on 6 Apr 2017, the amount of tax relief you can claim for loan interest paid, will …

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[15 Jul 2009 | No Comment | ]

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This checklist is set out in the style of a flow chart, only without the boxes! It is the normal practice to collate a separate set of records for each separate property. We prepare individual summaries in the case of multiple properties and the figures are later combined only for the purposes of a personal tax return.
Start
Bank/Finance House items

A copy of a loan interest paid certificate for the whole tax year.

If the lender cannot provide a certificate, please let …