The introduction of Section 24 in 2015 changed the amount of tax relief landlords could receive. After a phased introduction, the amendment came into full force in April 2020. So what is Section 24 and how does it work?
Section 24 is an amendment to the UK tax law that applies to income on residential rental properties. It was introduced to stop high earners from claiming back large amounts of tax relief and to give first-time buyers a chance to get on the property ladder.
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