According to London estate agents LudlowThompson, UK Landlords will still be able to claim £15billion in tax reliefs and property expenses, even after the recently announced Government reductions are introduced.
Stephen Ludlow, Chairman at ludlowthompson, commented, “Despite a lot of media attention surrounding the Government reductions to tax reliefs, buy-to-let is still an attractive investment with substantial tax breaks.
“Landlords can still claim tax relief for many costs incurred in buy-to-let, from general maintenance to any professional fees involved.
“When recent changes to buy-to-let tax reliefs are taken into account over the entire lifetime of what is normally a long-term investment, they will have a minimal impact on an investor’s return.”
“Tax reliefs ensure landlords can maintain the high quality of their rental property. Just as importantly, the buy-to-let market plays a vital role in the economy by upgrading the ensuring the existing housing stock remains high and tenants have access to a wide pool of affordable, flexible rental accommodation, thereby ensuring labour mobility.”