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Old 05-05-2023, 15:52   #2
Hugh
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Join Date: Jun 2006
Age: 68
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Re: Landlords and Tax 2023-2024

A link where you don’t have to sign up with an email address, and it’s mainly for buy-to-let landlords.

https://12ft.io/proxy?q=https://www....uy-to-let-tax/

Not sure this will affect many CF’ers…

Quote:
Corporation tax rate rise

​​Since buy-to-let mortgage interest tax relief was reduced to the basic rate of income tax, a high number of landlords have transferred ownership of their buy-to-let portfolios to a limited company.

This means that they have to pay corporation tax instead of completing a Self Assessment.

From April 2023, the corporation tax rate for companies with profits above £250,000 increased from 19 per cent to 25 per cent.

Landlords with a limited company portfolio that generates profits of between £50,001 and £250,000 will pay corporation tax at 25 per cent, reduced by a marginal relief. This means they’ll pay a gradually higher tax rate based on how much they earn.

Landlords who make annual profits of up to £50,000 will continue to pay corporation tax at 19 per cent.
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