Loveitts have offered the Blue Light Scheme for the past 12 months and it seems even more relevant now to mention this again that we do with what is happening in the world. The Blue Light Scheme offers a discount to the emergency services and NHS on our normal fees if you are looking to sell or rent your home. we are thankful for all the work they are doing. #staysafe
Landlords are no longer be able to deduct all their finance costs from their property income to arrive at their property profits. They will instead receive a basic rate reduction from their income tax liability for their finance costs. The restriction has been phased in gradually from 6 April 2017 and is fully in place from 6 April 2020. From 6 April 2020 landlords will not be able to deduct any level of mortgage interest before calculating their tax liability. Tax relief for all finance costs will be restricted to the basic rate of income tax, currently 20 per cent. Instead, once the Income Tax on property profits and any other income sources has been assessed, landlords Income Tax liability will be reduced by a basic rate ‘tax reduction’. The Government have also reformed how landlords of residential property can account for the costs they incur in improving and maintaining rental property. The Wear and Tear Allowance was abolished in 2015/16. Since April 2016, landlords can claim a ‘Replacement of domestic items’ relief, which is a tax relief on the costs of replacing a domestic item such as beds, sofas and fridges
Auction House wins gold at property ‘Oscars’ Auction House, operating as Auction House Loveitts in Coventry and Warwickshire, has won the gold award as Residential Auction Service of the Year in the 2019 Negotiator Awards – widely recognized as the most important awards programme for the UK property industry.