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Originally Posted by Hugh
It’s on profit, and the earnings rates are the same as PAYE.
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Not any more it isn't from what he was saying
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For the 2023-24 tax year, landlords will pay 20 per cent tax on buy-to-let income between £12,571 and £50,270.
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From your link. He was telling me currently he was getting taxed purely on profit after mortgage and the new way he has to pay tax on the total rent he charges so he is dumping stock and getting out of it. I am guessing he makes a fair bit more than the £12k. And I am only going on what he told me so don't shoot the messenger
It is the changes to Section 24 he was on about. Which still counts
https://www.nationalpropertybuyers.c...tal%20property.
I do not understand it hahaha I just know he is dumping stock and a lot of others are also