With Section 24 mortgage interest relief changes, how does my higher-rate tax bracket impact the actual tax I pay on my £800 monthly mortgage interest for my rental portfolio, and what strategies can mitigate this?
Quick Answer
Section 24 means higher-rate taxpayers get a 20% tax credit on mortgage interest rather than full deduction, boosting taxable profit and impacting cash flow. Strategies include incorporation or offsetting other expenses.
About This Topic
Understand how Section 24 impacts higher-rate taxpayer landlords with £800 monthly mortgage interest. Learn strategies to mitigate tax, including incorporation.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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