It was announced in the budget yesterday that UK landlords will have their tax relief cut on their mortgage interest payments.
Being able to claim tax relief on mortgage interest payments has been a long standing relief for landlords.
The proposed changes mean that the higher rate relief of 45% will be cut to 20%. This will have a big effect on landlords currently taking advantage of the higher rate relief.
Landlords profits could be seriously reduced when the change takes place from April 2017.
For landlords only claiming relief at the lower limit of 20% nothing will change.
Find out more about how this may effect you today.
