Landlords – watch out for these buy-to-let tax traps!

Stamp duty It is important to remember that the stamp duty system was reformed in December last year to make it more similar to the way income tax works. Under the new system, rather than paying a percentage of the total property price, you will pay different rates for different bands. For example, you won’t pay any stamp duty land tax on the first £125,000 of the purchase price, but you will pay 2% on the proportion which is between …