Accord Buy to Let has produced a guide as part of its free Growth Series, designed to help brokers explain the new tax rules for landlords to their clients.
Changes to the way landlords are taxed began on 6 April 2017, with some changes to income tax for private landlords set to be phased in over the next two years. The guide has been published to coincide with landlords preparing their first tax returns under the new regime.
The guide gives brokers an insight into the ways income tax, wear and tear allowance and stamp duty have changed for buy-to-let properties, and is aimed at helping brokers to understand their clients’ needs.
It has been launched as part of the Accord Growth Series – a free online package of tools created by the Yorkshire Building Society’s intermediary-only lender, to provide practical help and solutions to brokers who want to increase and retain their client base.
Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said: “Tax for landlords has become increasingly complex since the new rules came into force last year.
“With the first self-assessment deadline since the changes fast approaching in November, we thought it might be useful to provide brokers with an accessible online guide on how tax has changed for landlords and what it might mean for their clients.
“We are passionate about helping to empower brokers to grow their businesses. Our online guide provides a free, simple and easy way of understanding your clients when advising them on which type of mortgage is best for them.”
To view the guide, visit https://info.accordmortgages.com/btl-tax-guide