The third phase of the restriction of tax relief on mortgage interest takes effect in this new tax year 2019/20, the ultimate aim being to restrict the available relief to the basic rate. These changes impact on all landlords with borrowings but perhaps more significantly for those with rental properties.
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Latest Personal taxation articles
The Scottish Government has launched a cconsultation on a new approach to the planning, management and implementation of the fully devolved taxes in Scotland. Responses are welcome by 6 June 2019.
HMRC have announced that their plans for Making Tax Digital for Income Tax and Corporation Tax will be delayed due to the need to concentrate their efforts on Brexit.