With house prices at all time highs, mortgage rates on the increase and disposable incomes under pressure, the property rental market has been booming as individuals, couples and families choose to rent rather than buy. If you’re thinking of buying a property to rent or you’re switching your current property to a rental as part of a relocation, you’re going to need to know about the tax implications of doing so.
Yes, a salary of 100k + does still put you in a relatively select group at the top of the UK earners list. Whilst those at the very top of that heap are touching seven-figure salaries, the proportion of those on more than £100k continues to grow.
But with a cost of living crisis, slow growth and record amounts of government borrowing needing to be paid back, if you’re earning £100k or more in the UK, you may find yourself in the spotlight if there are any changes to the income tax bands.