Author - PMC Partnership

Autumn statement

Autumn statement The Autumn statement yesterday was pretty uneventful, confirming lower UK growth due to Brexit. The main points were the following : The personal tax allowance will rise to £12,500 and the upper rate tax threshold to £50,000 by the end of the current parliament The National Living Wage will rise from £7.20 to £7.50 from April 2017 Insurance premium tax will rise from 10% to 12% in June 2017 Employee and Employer NI will be equalised to a £157 per week threshold from [...]

Buy To Let Tax changes

Buy to Let tax changes The Government is hammering the landlord with the latest planned tax changes to the Buy To Let residential market. From April 2016 the flat 10% wear & tear allowance is being replaced by just being able to claim for replacement of actual capital items. More importantly from April 2017 the way that mortgage interest is treated is changing. Instead of claiming the entire amount against your income, now the rental income will simply be added to the rest [...]