London, 26th October, 2017

Landlords are planning to change their current policies based on the latest tax changes imposed by the government. Ever since the year 2016, there have been six macro changes in tax policies.
Sources have revealed that, ‘several tax changes have been imposed on landlords and that has directly impacted them.’ Investors have to pay additional tax on their property from about £5,000 to £14,000.
Additionally, the elimination of landlord’s ability to claim 10% tax exemption for wear and tear resulted in minimised final cost that they incurred.
Furthermore, in April 2017, interest tax relief compensated 75% of their mortgage interest against their profits. Over the years, the rate will reduce probably from 50% in 2018 to 25% in 2019 and 0 by 2020. Thereupon it will replaced by a 20% tax credit.
According to a spokesperson, ‘some landlords mentioned that these changes should not impact their business while others said that this could lead to an increase in rent for tenants.’
He further mentioned, ‘It has been estimated that small landlords might have to increase their rent or sell their property. As a matter of fact, most of the landlords plan to be a part of this business at least for the next five years.’
It is difficult for a tenant to cope up with these constant changes and therefore they seek assistance from companies like Doherty Baines to seek the correct advice.
Doherty Baines is a personalised service provider which unites occupiers and investors. They create a combination which delivers profitable deals for both parties.
Doherty Baines is one firm that offers independent valuation advice for capital and lease transactions. They can provide correct guidance with respect to beneficial changes in lease clauses.
They have an expertise to create varied off market opportunities for investors.
If you intend to learn more about their services you can log on to their website: www.dohertybaines.com.

Doherty Baines
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