|
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.
|
__________________
There is always light.
If only we’re brave enough to see it.
If only we’re brave enough to be it.
If my post is in bold and this colour, it's a Moderator Request.
|