Significant numbers of landlords are not taking advantage of their legitimate tax allowances, says specialist lender Paragon.
More than one in 10 landlords are not claiming for their mortgage interest costs, while a third don’t offset the costs of letting agents against their profits.
Paragon has produced a free online tax guide that can be downloaded from its website to help landlords make their way through the tax maze. It can be downloaded from the lender’s website.
Nigel Terrington, Paragon Group chief executive, said: “Good tax planning is key. How landlords implement, manage and run their tax affairs could have a major impact on landlords’ property investments and their overall performance.
“Tax is a complex area and we are confident that our Tax Guide will help landlords obtain a better grasp of tax matters. It’s vital that landlords take advantage of the allowances open to them to maximise their return on investment.”
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