What does the Spring 2017 budget mean for property investors?

It was a quiet Budget, which is no bad thing for property investors! Some of the points we discuss in this episode are:

• Nothing about mortgage relief or stamp duty…in fact, nothing about housing at all!
• As before – Corporation tax will fall to 19% this April, and will then fall to 17% in April 2020. So good for those holding properties in a company
• The tax free dividend allowance for company directors will be reduced from £5K to £2K from April 2018.
• Extension until 2019 until landlords need to keep digital records and send quarterly updates to HMRC
• Rent-a-room relief – The government will consult on proposals to redesign rent-a-room relief, to ensure it is better targeted to support longer-term lettings. This will align the relief more closely with its intended purpose, to increase supply of affordable long-term lodgings.

And in our news story…did you enjoy the Northern Powerhouse? Then you’ll love the Midlands Engine!  We don’t have much to say on this right now, but watch this space.

Finally, to make up for the lacklustre budget, we have two resources of the week! Managing your credit file is not exciting, but it is important. It’s good to checkout a regular snapshot of how things are doing. The first resource this week is from Money Saving Expert and is called Credit Club. It’s super useful and once you’re signed up they will do the rest.

You can also get a free score from Experian now. This used to be around £15 per month, so is well worth checking out.