The Telegraph report:

Over one million landlords claim annual tax breaks on their investment properties each year, citing tax-deductible costs totalling £13bn. These are legitimate expenses, the biggest of which is the £6bn annual cost of interest paid on buy-to-let mortgages.

Using assumptions about the tax brackets into which most landlords are likely to fall, a think tank – the Intergenational Foundation – has calculated these reliefs cost the wider taxpaying public up to £5bn per year.

It has published the information in a report with the provocative title “Why Buy to Let equals Big Tax Let-off”.

You can read the full story here. 

Matthew Burgess
http://www.mattburgess.co
I am a journalist and author. I am a journalist at the UK edition of WIRED magazine. In 2015, my first book Freedom of Information: A Practical Guide for UK Journalists, was published. My second book Reed Hastings: Building Netflix, was published in March 2020. I created FOI Directory in 2012 and have maintained it in my spare time ever since.