It's been seven years now since the Tories brought in their draconian tax changes and what a game changer it's been. Looking back over the years it seems quite incomprehensible as to what has occurred.

2020 was the final phase of the new tax measures resulting in 20% mortgage relief, which as everyone knows has impacted heavily on landlord's income. I don't know any landlords who are now buying property to add to their rental portfolio. And who can blame them. With interest rates at 3%, BTL lenders offering a maximum of 60% LTV and rental calculations at 150% it makes it an unworkable business model.  

I suppose it all started in late 2015 when the bill was given its Royal approval. I, for one, immediately transferred some of my properties into my Ltd Company using incorporation relief and a deed of trust. It helped that I could prove this was my full-time business and that I employed people. But it wasn't without its concerns. It's all well and good transferring them but what about my income. If I draw the money out as income I pay tax but also the company pays corporation tax on its profits. In effect it's a double tax, which in itself becomes unviable. I did install a mitigation scheme incorporating Directors loans and management fees but it didn't sit well with me.