LANDLORDS - APRIL 2020 SECTION 24 TAX CHANGES

21st January 2020

LANDLORDS - APRIL 2020 SECTION 24 TAX CHANGES In April 2020, we’ll be entering the final year of Section 24 tax changes that will see any landlords that own rental properties in their own name losing the benefit of mortgage interest relief.

In layman’s terms, it means you’ll be paying tax on your total income turnover rather than on profit from the properties you have rented out.

For many - especially higher rate tax payers - it may mean it actually cost you money to continue operating your properties if you’re highly leveraged (mortgaged).