The 2016 UK Budget – Buy to let Mortgages..
Income tax relief enjoyed by landlords will be cut to the basic rate of just 20% with a gradual phase in from 2017.
The Daily Telegraph states this:
Currently interest payments of £100 only cost £55 after tax relief, but will cost £80 from 2020.
A landlord who borrows at even a modest level might end up paying more in tax than he makes in profit.
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