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TAX TIP TUESDAY: Landlords are Facing Higher Tax Bills – What Can You Do?

Our 5-minute read – Tax Tips – for UK doctors and dentists will help you save tax, get organised with your tax affairs and make sure you meet important deadlines with ease.


This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. The Financial Conduct Authority does not regulate tax advice. 


The Intermediary Mortgage Lenders Association (IMLA) has cautioned landlords that this month the impact of tax and regulatory changes from 2015 will finally be felt. This may well be a defining moment for the private rental sector as the public waits to see how property availability and tenant choice will be affected moving forward.

In recent years, landlords have weathered a number of storms that have made it harder for their businesses to flourish.

From 2016’s introduction of the extra 3% stamp duty on second homes, to the latest mortgage interest tax relief cuts and even stricter affordability testing guidelines, it seems like buy to let owners can’t catch a break.

On the other hand, tenants should expect higher rental prices which could ultimately prevent renters from adequately saving for their own homes, creating an unwelcome trickle-down effect within the property market.


New tax regulations come into effect

With all these factors in play, IMLA has warned that now is finally the time that landlords will feel the effects of the limitations and restrictions that have been in play the past few years in the worst possible place – their wallets – as the tax regulations finally come into effect. And as the remaining changes to taxes are rolled out over the next three years, many landlords will only see their tax bills rise. The only true way to prepare for any pitfalls is comprehensive tax planning with a professional advisor.

These new regulations and standards within the community have steadily chipped away at the buy-to-let sector and in fact, have spilled over into the private rental sector.


A 2018 report from IMLA found a steep 80% decline in investment in new houses within the private rental industry over two years.


Because of the rising costs, it could affect many landlords’ ability to offer the quality and quantity of the homes they want, and also they might no longer be able to work with a large portion of the population who cannot afford to buy their own home. Many financial experts oppose any further changes that could impact the buy-to-let market to prevent any further disruption.


Work with the experts

If you’re concerned that your tax bill will get hit because of the restrictions placed on landlords, or if you’re worried about growing your buy-to-let portfolio, get in touch with us. We’ll be able to help you plan for the tax implications and set you up for success in the future.


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