Future of Tax allowance for non resident landlords

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    Future of Tax allowance for non resident landlords

    Hello
    My wife and I own a flat in London let since we moved out and back to our home country. We are thinking of buying a second flat to let in the same building. We are not deterred by higher stamp duty for us vs resident buyers. However, we would not do it if we knew that we will not qualify for the personal tax allowance £11,850 in the future. I have not read any such thing but considering the government‘s efforts to keep overseas buyers away i think it could be an option for them. Does anyone have any information whether this is likely / unlikely in the next few years?

    thanks all and best regards

    #2
    Where is your home country ?

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      #3
      Hi, Germany

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        #4
        At present the personal tax allowance of £12,500 can be claimed by citizens of EEA countries ( about 30 countries in Europe.). Its difficulty to say if the personal allowance will be stopped in the future for EEA citizens.

        If the personal allowance is stopped, the cost of extra tax to pay is 20% of £12,500 = £2,500.

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