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Tax on buy-to-let and how to cut your bill: From income tax to stamp duty, what you need to know
Taxes on landlords have changed this year and most will now pay more tax
Mortgage interest tax relief has now been fully phased out after three years
Tax relief for accidental landlords has now also been scaled back
This guide is regularly updated to keep you informed on the current rules
Becoming a buy-to-let landlord can mean reaping a decent return, but it will also add to your tax bill.
If you can find a property in a decent location with good tenants then then you should be able to build up a good income from rent.
But the taxman will want to know about any returns you make. If you don t declare your income properly or capital gains when you sell, you could be in trouble.
We run through the taxes associated with buy-to-let.
Some of these taxes and allowances have changed, so make sure you are up-to-date with them.
British Business Bank: Recovery Loan Scheme Open for Applications
The
Recovery Loan Scheme is now open for application. Administered by the
British Business Bank, this is a new scheme to support access to finance for UK businesses as they turn the corner on the COVID-19 health crisis. The scheme, announced at the Budget on March 3, 2021, is scheduled to run until December 31, 2021.
The new program will allow UK firms to borrow up to £10 million for individual businesses and up to £30 million across a group. Funds may be used for any legitimate business purpose, including managing cash flow, growth, and investment.
The British Business Bank has been the organization that has been administering the