While I am totally opposed to the Tenant Tax (reduction of mortgage interest relief) it is so important that each investor does their own calculations.
I spoke to a lovely lady today who has spent the last year in total despair about how she will survive in retirement due to the tax changes.
She finally plucked up the courage to call me and tackle it head on fully expecting to have to remortgage, sell and restructure at great cost.
Ten minutes in I revealed that the changes will in fact have no effect on her tax situation!
I may have lost out on a bunch of mortgages but I made a lady very happy today.
Please don’t be an ostrich and speak to your accountant sooner rather than later.