Pro-Taxman

Residential property tax

Unused residential finance costs

Since 2017/18, the amount of income tax relief that landlords with residential properties have been able to claim on residential property finance costs (e.g. mortgage interest) has gradually been restricted such that for the year 2020/21 the restriction is now given as a tax reducer at the basic rate of tax (i.e. 20%). Loans that are wholly for …

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Do you have a company that owns a residential property? This might apply to you

Annual tax on enveloped dwellings The annual tax on enveloped dwellings (ATED) is a tax that applies, in the main, to companies owning residential property which is valued at more than £500,000. The tax only applies on properties that are classed as ‘dwellings’. This is a property where all or part of it is used …

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