A restriction on the tax relief landlords can claim for finance costs on residential properties at the basic rate of income tax.
Finance costs included:
The restriction was introduced to make the system fairer ensuring landlords with higher incomes could no longer receive the generous tax treatment, therefore it has been replaced with the 20% tax credit, so it’s restricted to the basic 20% tax rate.
It only affects you if you’re a higher rate taxpayer as you used to be able to claim back 40%.
Our first post on our blog! We can't wait to show you what's next
Read more
Here’s how Earnr helps Etsy sellers organise their income and pay themselves a regular salary
Read more
As part of our interest in supporting Etsy sellers, we’ve been doing some digging into the current state of the Etsy world as lockdown becomes more and more a thing of the past.
Read more