Kent Reliance for Intermediaries and EY have co-authored a guide for property investors.

Called, ‘Changes to UK tax relief on finance costs’, the guide’s 22 pages aims to shine a light on the restrictions on tax relief that started in April 2017 in tapered form and are due to come into full power this tax year.

It also discusses the process of investing under a company structure, income tax and corporation tax, capital gains, stamp duty and inheritance taxes.

OneSavings Bank group sales director Adrian Moloney says: “Our broker partners have told us that even though Covid-19 has impacted the purchase or remortgage activity of their clients, professional landlords are not standing idle. Many are taking advantage of the current situation to re-evaluate their investments, in order to maximise opportunities when normality returns.

“It is our hope that this guide will be a source of information for landlords and brokers about their portfolios but of course, this shouldn’t be seen as a substitute for professional advice. We always recommend to our broker partners that they advise clients to seek advice from an accountant or tax adviser to ensure they are fully aware of their portfolio’s tax liability.”

EY partner Martin Portnoy adds: “Whether you hold an interest in UK property for personal use, as part of a property business or for investment purposes, the UK taxation landscape can be challenging. Professional advice is essential and can add great value”.