Tag: tax
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Buy to Let Tax Changes: Is the Party Over?
If you’ve got or are interesting in buy to let property investments then you’ll almost certainly be aware of the upcoming tax changes that were announced in the budget in the summer of 2015. At the core of the changes announced is the scrapping of higher rate tax relief on mortgage interest. Landlords will no…
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How I Avoid Tax on Buy to Let Profits
If you’re a higher rate tax payer you’re currently liable to pay 40% tax on any profits you currently make on your rental properties. So assuming your Buy to Let business is making a profit each year then you really have two options to minimize your tax bill: Remortgage such that your mortgage interest payments are equal to your…
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How to Earn £34,000 Tax Free
This weeks budget brought about some big controversial changes. I won’t delve into all of them here, but instead comment on the fact that this and other recent budgets have made it possible to earn significant amounts of income without paying any tax – something most people are interested in! I’m lucky in a sense…
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Get on Top Of Your Tax Return
Recently I watched in horror as my mother in law was trying to work out what income and expenses she has had over the last few years on a property which she jointly owns but has been renting out. Hearing tales of her requesting 9 years worth of bank statements and scratching around in the…
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The Hidden 60% Income Tax Rate
I’ve been debating over the last few weeks about how much contribution to make to my personal pension. As with most of the unlucky under 40’s in this country, I’m on a defined contribution pension scheme. Up until now i’ve not made any contributions of my own, instead i’ve been focusing on diverting my cash…