Lack of buy-to-let funding could strangle the private rented sector.
The warning comes from HomeLet managing director John Boyle, who is also a landlord.
The latest FindaProperty Rental Index reveals a rise in asking rents by 1.2% to £814 pcm. But Boyle said that unless restrictions on buy-to-let lending are relaxed, there could be more tenants than properties.
He said a surge in the number of ‘reluctant’ tenants – house sellers who cannot find their next home to buy because of the current lack of stock – coupled with a severe housing shortage could cause serious problems across the entire housing market.
Boyle also said that as the number of people renting homes increases, more letting agents would enter the fray, looking to cash in.
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Brighton Accountant as your appointed tax advisers we can help reduce your Income Tax ensuring all allowable expenses are deducted against your Buy-to-Let property (BTL) rental income. When selling your Property (BTL), you need to consider obtaining expert Capital Gains Tax advice. There are a significant number of exemptions available for Capital Gains Tax mitigation. The timing of the asset disposal can also result in a considerable saving of capital gains tax on your buy-to-let property.
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Buy-to-let property is now a common feature of most tax payers’ self-assessment tax returns and the UK Housing market. There are a number of tax liabilities you will be faced with when investing in and renting out a Buy-to-Let property (BTL). VP Associates are first and foremost taxation specialists.
Company Accounts – limited companies are required to file their annual company accounts with the H M Revenue & Customs (HMRC) and with the Registrars of Companies at the Companies House.
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Buy-to-Let Property (BTL), Investment Property, Rental Income & Tax
Buy-to-let property is presents itself as a common feature of most tax payers’ self-assessment tax returns and the UK Housing market. There are a several tax liabilities you will be faced with when investing in BTL property and renting out a Buy-to-Let property (BTL). Brighton Accountant are first and foremost taxation specialists.