The phased restriction of tax relief on interest payments by residential property landlords will start in April 2017 as already legislated. The Finance Bill 2016 will make some amendments and…
There will be an increase in the personal allowance for 2017/18 to £11,500 and the higher rate threshold to £45,000.
Opportunity for those making investments into smaller companies.
In his attempts to reduce the UK debt mountain, George Osborne has made inroads into a multitude of basic tax reliefs. Many significant changes are due to be made from 6 April 2016.
Landlords of furnished, residential property will likely see an increase in their tax payments when the present 10% wear and tear allowance is replaced by a more restrictive replacement cost relief from April 2016.