Free Resources
Free resources to help you speed up your research and make smarter investment decisions.
Essential Guides
Practical checklists and templates to speed up your research and help you avoid costly mistakes.
Interactive Tools
Straightforward tools to help you analyse deals and brush up on the essentials.
AI Property Analyst
Quickly clarify terms, calculate basic metrics, or get market definitions. (Members Only)
AI Analyst
Example Query
Section 24 refers to a tax rule change introduced in the Finance (No. 2) Act 2015, which restricts tax relief for finance costs (primarily mortgage interest) for individual private landlords.
Previously, landlords could deduct mortgage interest from their rental income before calculating their tax liability. Under Section 24, you must pay income tax on your total rental turnover, receiving only a basic rate (20%) tax credit for your finance costs.
This change significantly affects higher-rate and additional-rate taxpayers, often resulting in much higher tax bills. It can also push basic-rate taxpayers into a higher tax bracket because the "profit" appears artificially higher. Notably, Section 24 does not currently apply to properties held within a Limited Company.
*Disclaimer: I am an AI assistant, not a financial advisor or accountant. Please consult a qualified tax professional for advice specific to your situation.*
Deal Calculator
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