Net profit on letting your flat

Retired_Mortgage_Adviser

In addition to the above, reduction of the Personal Savings Allowance from £1,000 to £500. At least I think it will.

Jumblebumble wrote: »

I would be very interested to hear how and if it is common
The reason I ask is that a chartered accountant sends us newsletters and this has appeared in the one that came this morning
I would quite like to correct them if they are mistaken

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All this means is that if anybody is a basic rate taxpayer, then they do not lose out because of these changes. However if you were being or are now being taxed at 40% then you are only getting your tax bill reduced at the higher rate for 50% of the interest and from April 2020 you will not be entitled to the relief at your higher rate at all

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