When MIRAS was abolished in April 2000, many homeowners lamented the average tax relief loss of around £130 a year.
Now, however, it seems there are small tax relief advantages for buy-to-let owners that some advisers may have overlooked, suggests Peter McGahan, managing director at Worldwide Financial Planning. So who says MIRAS is dead? Over the years I have seen many clients make some great decisions and one or two have managed to put together a portfolio of properties to rent out. Recent rises in property prices has etched a permanent Cheshire cat on their faces and it would be easy at that point to sit back and consider our job is done. But there are still a few tips to consider, as MIRAS, ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes