December 5, 2023
Ascot Team
Latest Insights
Landlord Taxation Update
Recent years have seen significant changes to how property income is taxed. Here is a summary of the current landscape.
Section 24 (Mortgage Interest Relief)
Landlords can no longer deduct mortgage interest from their rental income. Instead, they receive a 20% tax credit.
Capital Gains Tax
The tax-free allowance for Capital Gains Tax (CGT) has been slashed, impacting the profit you take home when selling a property.