As a new buy-to-let landlord, how exactly does Section 24 impact my mortgage interest relief, and what's the most effective way to calculate my taxable profit now?
Quick Answer
Section 24 means individual landlords no longer deduct mortgage interest from rental income. Instead, you receive a 20% tax credit on your finance costs, affecting your taxable profit calculation significantly.
About This Topic
Learn how Section 24 affects buy-to-let mortgage interest relief & taxable profit for UK landlords. Understand the 20% tax credit mechanism.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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