Hi all,
This is likely going to be a really dumb question but I'm going to ask it anyway. I've done my research but I can't get a clear answer. As I understood, the changes with the tax relief will mean that by 2020 we won't be able to deduct any interest payments and therefore be paying more on tax. However, I've heard on a couple of podcasts that this won't affect basic rate taxpayers. Please can anyone confirm whether or not this is true? I'm confused as on the same show they said basic rate taxpayers will need to be wary as it can push them into the higher tax :S
Any help will be appreciated.
Thanks