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Landlords report impact of tax changes

Landlords report impact of tax changes

The January 2019 tax self-assessment deadline was the first time that landlords reported under new mortgage interest rate tax rules. We asked a panel of 200 experienced landlords to quantify the impact. Here’s the results:

Mortgage interest tax relief for buy-to-let landlords is being phased out over a four-year period and replaced with a basic rate tax credit. In the 2017-18 tax year, landlords could deduct 75% of mortgage interest costs from rent. This was reduced to 50% in 2018-19. It will fall to 25% in 2019-20 and then to zero.

Mortgage intermediaries can find out more about Paragon’s range of buy-to-let mortgages here.

25 March 2019

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.