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They've eliminated this deduction in both the UK and NZ in the past couple years, at least for individual landlords. NZ does allow it for new builds to incentiv
by mprovost 5y ago
They've eliminated this deduction in both the UK and NZ in the past couple years, at least for individual landlords. NZ does allow it for new builds to incentivise construction of new housing.
- nly 5y agoBig landlords already incorporated in the UK. Small landlords (the majority), who haven't yet, just move in that direction and get screwed with legal and accounting costs, but otherwise nothing changes. Most limited company buy to let mortgages in the UK are underwritten by a directors personal guarantee. It's just a technicality compared to a personal mortgage and so only shakes out the laziest of landlords