Buy to Let: Landlords mount legal challenge

Landlords mount legal challengeDisgruntled Buy to Let landlords have mounted a legal challenge against the Government’s proposed changes to the way in which their rental income is taxed. In his first Budget after the election, George Osborne introduced measures increase the tax payable by Buy to Let landlords. At present a property investor can offset all the interest payable on a Buy to Let mortgage, thereby reducing the profit made and therefore the tax payable. However, Mr Osborne announced that the amount of interest which investors will be able to offset against income ...

Pensions: Is tax-relief about to be cut?

Pensions: Is tax-relief about to be cut?One of the reasons many people pay into a pension is because of the tax-relief they receive. The quid pro quo for this additional boost to your pension pot, is that you have to leave it invested until you hit 55 (later for some younger savers retiring after 2028), but this is generally accepted, especially after the recent introduction of Pensions Freedom. However, with the election out of the way, and the Government searching for billions of pounds in savings, many people are predicting that tax-relief on pensions ...

Five reasons why you still need an ISA

Tax Free Key Means UntaxedThe announcement in the Budget, that savers will now receive a proportion of their savings interest tax-free, has led some people to suggest that ISAs (Individual Savings Accounts) will no longer be needed. Since its introduction the ISA has become the foundation of most people’s savings and investments, so is the future of the ISA really in doubt? What changed in the Budget? George Osborne has announced a new personal savings allowance will be introduced from April 2016. This will mean the first £1,000 of interest for basic rate ...

Q & A: Everything you need to know about Help to Buy ISAs

Everything you need to know about Help to Buy ISAsAlmost everyone seems to be in agreement, getting on the housing ladder if you’re a first time buyer is harder than ever. A combination of rising house prices and stricter mortgage lending criteria is making life extremely tough for many first time buyers, even after the launch of various Government incentives, such as Help to Buy. So the news in last week’s Budget that a new Help to Buy ISA (Individual Savings Account) will be launched later in the year is a boost ...