Changes to Residential Landlords rental income tax

landlord income tax

Under the previous tax system, landlords could deduct all their mortgage interest cost from their rental income before calculating their tax liability. However, from April 2020 the tax relief on finance costs will be restricted to the basic rate of income tax which is currently 20%. This is phased in from April 2017. Furthermore, Finance costs will not be taken … Read More

Effect of Brexit on Small Businesses

Brexit Accounting

It has been more than one year since Britain voted to leave the EU. Triggering of article 50 of the Lisbon Treaty has started a legal process of divorcing United Kingdom from Europe. Clearly this has resulted in a great deal of uncertainty for all businesses. Small businesses find themselves in a state of limbo. As for any change, Brexit … Read More