Landlords urged to hold off incorporating
Tue 28 Feb 2017
The National Landlords Association is urging members to hold off from incorporating in case the Government tries to clamp down on limited companies being formed to mitigate income mortgage relief changes.
Richard Lambert, Chief Executive of the Association warned that landlords, many of whom are incorporating to preserve mortgage interest relief, should wait to see whether a consultation is launched in next week's budget before making a decision.
The number of landlords intending to use commercial loans has risen dramatically last year from 10% in July 2015 to 19% at the end of last year. The changes to taxation will take place from April and once fully phased in by 2021, will affect how landlords can deduct their finance costs as an allowable expense.
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