Purchasing your first home, or moving into a new property, is an exciting and joyous time. It is also a big financial commitment. Getting expert financial advice could save you money as well as time and stress. There are many things to consider when purchasing a property, even more so if you are purchasing a second residential property. One of these is stamp duty.
From April 2017, tax law surrounding buy-to-let property is changing. If you own a rental property it is important you understand fully how these changes will affect your tax position. Tax relief on mortgage interest will be reduced from next week, on a tapered approach until 2020.
The tax return deadline is on 31 January, meaning that you have less than a week to finalise your tax affairs for the year ended 5 April 2016. It also means you have just a few days to settle your tax payment.
The Autumn Statement had, as expected, a key focus on what is commonly referred to as a "housing crisis". Lack of affordable homes continues to be an issue, along with the inflated house prices that make it virtually impossible for first-time buyers to get the break they need. Landlords are still very much in the firing line for government attempts to dampen activity in this sector.