As a higher-rate taxpayer with a BTL mortgage, how exactly has Section 24 impacted my taxable profit calculations and what advanced strategies can I use beyond simply incorporating?
Quick Answer
Section 24 removed mortgage interest deductibility for individual landlords, replacing it with a 20% tax credit, increasing taxable profit and thus tax for higher-rate taxpayers. Strategies beyond incorporation include joint ownership or investing in commercial property.
About This Topic
Section 24 removed mortgage interest deductibility for higher-rate taxpayer landlords from April 2020. Learn advanced strategies beyond incorporation, like joint ownership or commercial property, to mitigate tax increases.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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