Landlords used to be able to deduct 100% of their mortgage interest tax relief when calculating taxable profit. In April 2017 this was reduced to 75%.
From 6 April 2018, landlords will only be able to offset 50% of their mortgage interest against profits.
This will continue to decrease until the relief is phased out entirely by 2020.
Instead, landlords will be able to claim a 20% tax credit on their mortgage interest thanks to mortgage interest tax relief.
To learn more, please visit https://www.gov.uk/government/news/changes-to-tax-relief-for-residential-landlords.
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