Zoë's Place Baby Hospice is due to open in Coventry within the next few months. An event at Arbury Hall in Nuneaton was arranged and hosted by Lady Daventry, for the supporters of the Hospice. Loveitts were delighted to be invited to the event, as Zoë's Place has been voted as the Local Charity that Loveitts will be supporting this year. Sally Smith and Paul Barnes, Managers at Loveitts, attended the event. Zoës Place Trust runs the only baby specific hospices in the UK. The hospice in Coventry will provide 24-hour one-to-one respite care to infants from 0 - 5 years old with life-limiting and life-threatening illnesses. To donate or contact Zoe's Place call 02476 361675 or visit www.zoes-place.org.uk.
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
It is now readily understood by all, I’m sure, that we are living in unprecedented times – the recent coronavirus outbreak is impacting on economies and, more significantly, on people worldwide. I therefore just wanted to take this opportunity to provide some reassurance that we, at Loveitts, have a comprehensive business continuity policy in place (which will evolve as the circumstances dictate) so as to provide support and assistance to all our clients throughout.