{{name}} | College & County

Catch up on Oxford lettings and property news stories

Landlords' Tax Allowance

Monday, July 25, 2011 Posted in: Landlords Other

Landlords are being urged to ensure they are fully tax efficient after research shows many are failing to claim for the full range of tax allowances. 

Buy-to-let mortgage specialist Paragon said landlords could offset many of the costs incurred through letting property against their income, but many were unaware of the full range of costs they could claim.

For example, Paragon's research shows that more than one in 10 landlords (13%) are not claiming for mortgage interest, despite it being a major cost for landlords.

College and County's managing partner, Mark Crampton Smith said "a third of landlords don't claim management or letting agent fees, with 55% of landlords not claiming for advertising costs incurred in letting their property. "He added: "I'm sure when landlords take all of these allowable costs into consideration it could generate a significant saving on their tax bill." 

If you require further information on the allowances for landlords you can download Paragon's Tax Guide (prepared in association with Perrys Chartered Accountants), from www.paragon-mortgages.co.uk. This guide helps landlords from purchase through to sale and provides comprehensive information on income tax, limited companies and Capital Gains Tax, in addition to the list of tax reliefs available to landlords and top tax tips. 

Nigel Terrington, Paragon Group Chief Executive, said: "Good tax planning is key. How landlords implement, manage and run their tax affairs could have a major impact on landlords' property investments and their overall performance. 

"Tax is a complex area and we are confident that our Tax Guide will help landlords obtain a better grasp of tax matters. It's vital that landlords take advantage of the allowances open to them to maximise their return on investment."

Related articles

5 Springtime Tips for Weatherproofing Your Properties

5 Springtime Tips for Weatherproofing Your Properties

Taking simple measures to protect your property from the elements now could prevent much bigger c...

Thursday, March 22, 2018
Posted in: Landlords Other
HELP WARM THE HOMELESS: Coat Campaign 2018

HELP WARM THE HOMELESS: Coat Campaign 2018

HELP WARM THE HOMELESS. Here's how...    After a warm and well-deserved summer, Winter...

Thursday, November 15, 2018
Posted in: Landlords Other

Subscribe to our Newsletter

Complete the quick form below to receive regular news and property updates from College and County, a leading lettings agent in Oxford.

© College and County
Illustrations by: Eleanor Greenhalgh
Website Design and Digital Marketing by Urban Element