By Louise Misiewicz
Are you looking for property investment advice in 2017?
My team of property tax experts have been reviewing some of the top industry news this week, and our property investment blog is a great place to share our professional property accountancy advice.
Having reviewed property investment industry news this week, I noticed the varied responses from the Press around the Bank of England’s recent review of the industry as we head enter 2017 – and the concerns amongst property investors that this could lead to even more legislation being brought to bear upon them.
Disposal of property assets?
Despite the fact that the property investment market slowed down during 2016, the Bank of England appears to be reluctant to reduce or remove any of the current legislative restrictions in place on the industry – at least for the start of this year.
This could lead to buy-to-let property landlords looking to dispose of assets in 2017 – including property.
Not that our property tax experts would want to be accused of doom-mongering by our property investor clients: in fact, we recently wrote a blog post here about the post-Brexit opportunities in 2017 for those involved in property investment.
We wrote a detailed and informative blog post about the impact of the Stamp Duty changes on property investors – read it here to fully understand the changes and how they might impact your portfolio.
How hard did Stamp Duty changes affect property investment?
According to statistics released by the Council of Mortgage Lenders, buy-to-let lending plummeted from 4,400 purchase loans for the month of March 2016 to just 600 in April 2016 – tying in with the changes in stamp duty that month.
Are the transfer of property assets via TOGC advisable?
It’s interesting to note that changes to the treatment of mortgage interest costs and mortgage interest relief will be changing in 2017, and this will also potentially impact property investors tax bills in 2017.
My team of property tax experts are advising clients across the UK to do their research and seek professional assistance, to ensure that they minimise their property tax liability wherever possible.
We have already written a detailed blog post here about transferring assets via TOGC and how this can impact buy-to-let property investors in the UK during 2017. It’s well worth reviewing.
If you’re unsure how to maximise the profitability of your property portfolio in 2017, please get in touch with me and my team here.
Has lending on buy-to-let loans tightened up in 2017?
The Bank of England has already tightened up the lending limit for banks to property investors at 4.5 times of a property investor’s income level. This restriction was an attempt to cool down property investment.
Far from reducing borrowing, it rapidly created a surge of borrowing at just below that lending limit. It’s clear that despite the prevailing economic conditions, property investment continues at a healthy level.
My team of property tax specialists wrote an in-depth article about the real cost of buy-to-let mortgages in 2017 – read it in full here.
How to engage with us
If you want to discuss finance or property tax questions, then please book some time with me and my team using the below calendar. We can help you to understand how to navigate the legislation set to impact property investment in 2017.
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If you are looking for a new property tax expert, then please book some time with us using the below calendar.
Please note that this booking is to describe our specialist property tax services, and will not be used to discuss your personal tax affairs.