5
May
Buy-to-let investors 'should be tax savvy'
People seeking to make money by investing in buy-to-let properties
should ensure they make the most of the tax savings available to
them.
This is according to Paragon Mortgages, which has produced a new
resource containing advice on how to achieve financial efficiency
in this way.
It noted that landlords can offset a number of costs associated
with their properties against their incomes.
For example, water rates, mortgage interest, legal fees, repairs
and maintenance and council tax are all things that can be treated
as expenses to come off tax bills.
"How you implement, manage and run your tax affairs could have a
major impact on your property investments and their financial
profitability," stated Paragon Mortgages' managing director John
Heron.
Recently, Alan Ward, chairman of the Residential Landlords
Association, said that investing in rental property is wise at
present as the UK market looks as though it will continue to grow
in success.
