George Osborne changed the law so that private Landlords could incrementally no longer claim interest relief on their investments.
Sounds technical until you realise that if you make £10,000 a year in
rent, you might previously pay say £7,000 in interest then (ignoring agents & maintenance) pay tax on the balance – £3,000.
In 4 years time (25% per year) you will pay tax on the £10,000 then you will pay your interest, then there will be a shortfall then you will most likely have to sell your rental property. And that will happen accross the board, with our levels of gearing, which will lead to many repossessions and a gargantuan property crash – or am I missing something?