Buy to Let: 

Investment in buy to let property is one way to invest your money, with careful planning this can be very rewarding but if you do not claim all allowances you could be missing out.

There are many tax advantages in investing in let property. Tax allowances can be claimed on the interest paid on loans for the purchase, repair and maintenance of the property, as well as providing deductions for insurance, services and other costs.  Further reliefs are available where a property is let furnished or is a ‘holiday let’ property within certain specialised rules.

Any ultimate sale of the property may attract Capital Gains Tax, but there are deductions available in calculating the capital gain made during the period of ownership.  Reliefs are also available where a property has been occupied as the owners’ home at some time during the period of ownership.

It should be appreciated that HM Revenue & Customs have recently focused their attention on property owners who have let their properties and failed to declare rentals in their tax returns.

For more information and guidance on buy to let opportunities, please call Pilbro on 01280 820 654.