Even though Section (or clause) 24 was announced back in 2015, and the affects on the tax system have already started, I can believe that some, perhaps many, buy to let property investors and landlords still have little idea how it going to affect them.
There seems to be a collective state of denial, with many assuming it’s someone else’s problem which “doesn’t affect me”.
Sadly, that’s probably not the case, and many investors and landlords will have a shock when the provisions really start to bite, and they feel it in their tax bill.
At the other extreme are landlords and property investors who are selling, almost in a blind panic. I’m not convinced that is the right way forward either, unless all aspects of incorporation (putting your properties into a limited company) have been explored and found wanting.
Where I invest the number of properties going into auction has risen dramatically over the last 18 months and I’m guessing it’s because many investors are dumping their buy to lets.
Every downside has an upside and if you want to buy, you’ll probably be able to find some great bargains.
Here’s to successful property investing
Peter Jones B.Sc FRICS
Chartered Surveyor, author and property investor
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