16 Jun

Landlords missing tax breaks for houses to rent in Somerset?

Landlords missing tax breaks for houses to rent in Somerset?

Buy-to-let investors with property to rent in Somerset may not be using all of the tax breaks available to them, it has been suggested.

Many landlords are unaware of the full range of costs that can be offset, according to Paragon.

The specialist mortgage firm has revealed that one in ten buy-to-let owners does not claim for mortgage interest, while a third fail to recuperate the costs for management or letting agent fees.

In addition, 55 per cent of landlords miss the tax break allowed for advertising costs.

Nigel Terrington, chief executive of the Paragon Group, believes good planning is key when it comes to tax.

He explained: "How landlords implement, manage and run their tax affairs could have a major impact on landlords' property investments and their overall performance."

Buy-to-let investors with houses to rent in Glastonbury may have recently experienced increased demand ahead of the Glastonbury music festival.

The event, held each June, will bring scores of people to the Somerset town when it begins on Wednesday (June 23rd).ADNFCR-1222-ID-800580263-ADNFCR

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