Landlords in the buy-to-let market will be the winners with the income tax
cuts that have been dished out by Gordon Brown in his
Wealthier landlords stand to benefit from cuts from at least £1500 a year,
while well-off retired people topping up pensions with rental income could see
similar-sized tax benefits, the FT reported.
Grant Thornton senior tax partner Mike Warburton said this was unexpected of
‘This apparent favouring of unearned income in the Budget could be seen as
perverse,’ said Warburton.
Landlords will also not be subject to national insurance since income from
buy-to-let properties as well as other
pensions and investments are exempt from
‘The great majority of buy-to-letters are deemed to have rental rather than
traditional businesses so NI doesn’t arise,’ said PwC tax partner John Whiting.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
Drastically fewer offices for HMRC in the hope to reduce their running costs
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans
Many working in professional services have received honours this new year from the Queen