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Resources

Property landlords

Property landlords are already facing a number of changes, which have applied with effect from 6 April 2017.

For many landlords their tax liability on rental income is based on net cash receipts from their property business, unless they elect otherwise. Where the cash basis applies, the tax-deductible finance costs are restricted if the amount owed at the year-end exceeds the cost of properties held when acquired for the property business. There may be a comparable restriction if the cash basis is not applicable, but it is likely to be more flexible. This restriction is separate to the provision that confines the income tax relief for part of the finance costs of landlords of residential property to 20%. The proportion affected is 25% in 2017/18, 50% in 2018/19 and will rise to 75% for 2019/20 and 100% subsequently.

This also applies to interest on loans used to provide capital for partnerships letting residential property.

Current Issues

Women missing out on state pension

Thousands of women are thought to have been underpaid the state pension, thanks to a rule change in 2008 and computer errors.

Insolvency, Restructuring and Refinancing – IBSA Conference 2021

Shipleys is delighted to sponsor the International Business Structuring Association's (IBSA) Autumn conference, with Ben Bidnell joining the panel of expert speakers.
Autumnal leaves.

Pension freedom age to rise

The earliest age at which you can withdraw cash from a private pension, without facing tax penalties, is set to increase from 55 to 57 on 6 April 2028.