How can landlords understand and cope with mortgage interest tax relief changes?

  Unless you have been living under a rock recently, you should be aware of some imminent alterations to mortgage interest tax relief. The changes are set to come into force this week (April 6th) and are sure to have implications for buy-to-let landlords and tenants alike.But just what is changing and what can investors do in order to cope, ultimately maximising their returns?Ryan Weston, of Just Landlord Insurance Services, explains:What is changing? ‘In the Summer Budget of 2015, then Chancellor George Osborne announced plans to alter how mortgage interest tax relief is calculated by buy-to-let landlords.Presently, landlords can cut their taxable income by deducting the cost of some expenses. These include letting agent fees, mortgage interest and repairs. Under the new legislation, landlords will still be able to deduct those costs, but cannot offset the cost of their mortgage interest from their rental income when working out profits.  Instead,...
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