Accord Buy-to-Let has published an online guide to help brokers navigate recent and upcoming tax changes with their landlord clients.
The intermediary-only lender has launched the guide to coincide with landlords preparing their first tax returns under recent buy-to-let rule changes, and in anticipation of further expected changes to be phased in over the next two years.
In 2017, the Prudential Regulation Authority (PRA) introduced more stringent affordability rules and stricter underwriting guidelines for portfolio landlords.
Stamp duty rules were also reformed, with the government introducing a 3 per cent surcharge on second properties in 2016.
Landlords are also seeing their income tax relief gradually restricted to the basic rate of tax, to be fully phased in by 2020.
Written by a tax expert, the guide is free of charge to download and Accord has actively encouraged brokers to distribute it among clients.
The guide addresses capital gains tax, stamp duty increases for buy-to-let properties, changes to landlord tax relief, tax differences for properties held in trust and buy-to-let through limited companies.
Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said tax for landlords has become increasingly complex since the new rules came into force last year.
He said: "With the first self-assessment deadline since the changes fast approaching in November, we thought it might be useful to provide brokers with an accessible online guide on how tax has changed for landlords and what it might mean for their clients.
"We are passionate about helping to empower brokers to grow their businesses. Our online guide provides a free, simple and easy way of understanding your clients when advising them on which type of mortgage is best for them."
Steve Olejnik, managing director at Mortgages for Business, said he supports lenders issuing education pieces for brokers and their customers so Accord should therefore be applauded.
He said: "They are not the first and several of the specialist lenders issued guides at the time of the changes but getting a refresher out now as the tax bills start to hit landlords is a good idea. Well done Accord."
rachel.addison@ft.com
