Mortgage Select are an independent mortgage brokers and advisors based in Taunton. They can arrange and advise on any type of Mortgage, finding you the exact product you need based on your personal situation and finances.
In recent years, the stock market has had its ups and downs, the public are losing confidence in pension funds as a means of saving for the future and investors are increasingly looking at the UK property market. Buy to let has proved over the long-term to be a very successful investment, this involves investing in property with the expectation of capital growth with the rental income from tenants covering the mortgage costs and any outgoings.
You may be aware that recently HM Revenue & Customs have announced and implemented many changes to legislation making owning Buy-To-Let properties less profitable and generally more difficult to operate.
We feel that we can use our extensive knowledge and expertise to assist you in, not only understanding the rules and how the changing landscape impacts your business but also help you to be more profitable by utilising all taxation efficiencies and ensuring your business structure is set up to withstand increased legislative burdens.
Under the old regime, you would only pay income tax on your net rental income, or profits. In other words, you'd first deduct the interest from the mortgage on your rental property, as well as any other expenses incurred throughout the year.
Henry Howard Finance has welcomed news that business rates are to better reflect property prices in future – but says the move is only part of the solution for British retailers now dealing with a multitude of challenges in the current climate.
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