Tax and Buy to Let

No matter the colour of Government, Tax is part of any buy to let landlord's financial planning. There are three main areas where tax is a highly important consideration with your buy to let property. It is important to remember these and plan accordingly.

Taxes & Offsets to Remember

• Capital Gains Tax (CGT): When you sell your property the profit (if there is any) will be liable to this type of tax.
• Tax on Rent & Deposits: Rent received can be income.
• Offsetting your expenses: You can offset things like repairs, advertising the property, fees charged by a managing agent. You won't be able to offset general. decoration and improvements though!

To understand more the Inland Revenue provide a free comprehensive guide that you can download at http://www.hmrc.gov.uk/pdfs/ir150.pdf

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