The UK property investment market is completely different now to what it was 10 years ago. ‘Accidental landlords’ as they are known were people who over the years used their hard-earned savings to buy a second home and rent it out as an investment. At the time why wouldn’t you if it was a great way to earn some extra income?
In 2015 this all changed when the UK government introduced “non-resident capital gains tax” (“NRCGT”). This now means that anyone owning a second property would be liable to pay large amounts of tax. With these new tax laws in place it is no longer financially viable to personally own property to rent out for extra income.
To make money and successfully earn from property today you must approach property investments as a professional, with experience, up to date knowledge on tax, finance, strategies and some form of company structure. You are highly likely to expose yourself to high levels of financial risk if If you ignore these factors when investing into the UK property market.
