BUY-TO-LET LANDLORDS MUST REVIEW PERSONAL TAX LIABILITY

摘要

Buy-to-let landlords have been warned that they should review their property portfolios before the introduction of the 3% additional stamp duty land tax (SDL.T) on buy-to-let and second homes from April. The changes effective in tax year 2016/17 have been a catalyst for an upturn in property sales at auction with low reserves and speedy completions making this a popular option, according to analysis by UK200Group. 'The looming 1 April deadline is causing some buy-to-let landlords to rush off to the auction rooms and panic buy. Equally, some landlords are reaching the decision that soon it will no longer be profitable for them to continue with this type of investment, leading to the temptation to divest and "sell at all costs",' said John Painter, chair of UK200Group's property and construction industry group, and partner at CB chartered accountants.