5 May

Buy-to-let investors 'should be tax savvy'

Buy-to-let investors 'should be tax savvy'

People seeking to make money by investing in buy-to-let properties should ensure they make the most of the tax savings available to them.

This is according to Paragon Mortgages, which has produced a new resource containing advice on how to achieve financial efficiency in this way.

It noted that landlords can offset a number of costs associated with their properties against their incomes.

For example, water rates, mortgage interest, legal fees, repairs and maintenance and council tax are all things that can be treated as expenses to come off tax bills.

"How you implement, manage and run your tax affairs could have a major impact on your property investments and their financial profitability," stated Paragon Mortgages' managing director John Heron.

Recently, Alan Ward, chairman of the Residential Landlords Association, said that investing in rental property is wise at present as the UK market looks as though it will continue to grow in success.

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