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.
Speaking in the House of Commons minutes after triggering Article 50, prime minister Theresa May said that it was a 'historic moment from which there can be no turning back'
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals