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Posted by Helen Jones

Professionals in the buy-to-let property market have been urged to make sure they are taking full advantage of all the tax benefits available to them.

Research published earlier this week (June 13th) by Paragon showed that many landlords are failing to make sure their business is fully tax-efficient, meaning their income is being whittled down needlessly.

For instance, the study found that 33 per cent of all such professionals do not claim management or letting agent charges, while 55 per cent fail to benefit financially from the advertising costs incurred in the letting process of their property.

Nigel Terrington, chief executive of Paragon, said that effective tax planning is essential for all owners of homes and added: "How landlords implement, manage and run their tax affairs could have a major impact on landlords' property investments and their overall performance."

Recently, Marcus Roberts of Savills advised buy-to-let investors to purchase regional student accommodation due to the strong demand in this area of the market.
 

15/06/2011 15:14