Scotland’s largest firm of chartered accountants and business advisers Johnston Carmichael has teamed up with Wardhaugh Property to host a seminar in Forfar.
It will be held on Monday, November 16 from 5.30 to 7.30pm at Johnston Carmichael’s office and will focus on tax issues affecting those in the private rented housing sector who either own, or are considering purchasing a buy to let property.
Lauren Miller, tax manager at Johnston Carmichael’s Forfar office, will discuss potential tax considerations of a buy-to-let acquisition, covering the recent changes announced in the 2015 Summer Budget which include the restriction of tax relief on interest payments and the withdrawal of the wear and tear allowance. Amanda Wiewiorka, director at Wardhaugh Property will discuss changes to the current legislation and explain the impact these changes may have for those in the private rented housing sector. She will also advise best practices within the industry.
Lauren said: “These changes are likely to have an impact on the buy-to-let property market across the UK. They are also being implemented on the backdrop of the forthcoming Scottish Rate of Income Tax which applies from April 6, 2016, together with the additional income tax powers available to the Scottish Parliament in future years, which could also see a difference in how landlords are taxed in the different parts of the UK. This type of investment offers a number of advantages, however in order to maximise your return on investment, it is important to consider the tax implications of purchasing a buy to let property. This event will see our experienced team at Johnston Carmichael team up with Wardhaugh Property, proving the ideal opportunity for buy-to-let investors to ask questions and understand the financial considerations of becoming a landlord.”