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Tool · 90 seconds
What is Section 24 actually costing you?
Since 2020, individual landlords cannot deduct mortgage interest as an expense, only claim a 20% tax credit on it. For higher and additional-rate taxpayers, that is real money. Enter your numbers and we will show the gap.
Enter your numbers and we will show the annual cost of the Section 24 mortgage interest restriction for your portfolio.
What we assume
- · The 20% tax credit applies in full (rare cases of credit restriction below 20% are not modelled).
- · Your tax band reflects total income including this rental income; if rental income pushes you into a higher band the actual cost may be larger than shown.
- · The five-year projection holds rent, mortgage and expenses flat. Real numbers move; we model future-year scenarios in client work.
- · Personal allowances, dividend income, and other reliefs interact with the calculation in ways this tool does not model. Use the result as directional, not final.
Section 24 hitting harder than expected?
For most higher-rate landlords, the next conversation is about whether incorporation pays. Tell us your situation in 60 seconds and we will come back within one working hour with a view.