Landlords ignorant of tax breaks: Paragon

Paragon has claimed that many landlords are failing to claim for the full range of tax allowances.

Its research suggests that 13% of landlords are not claiming for mortgage interest, despite it being a major cost for landlords.

Paragon also says one-third of landlords don’t claim management or letting agent fees, with 55% of landlords not claiming for advertising costs incurred in letting their property.

The buy-to-let is urging landlords to ensure they are fully tax efficient. For a number of years it has offered a tax guide.

Prepared in association with Perrys Chartered Accountants, the guide aims to help landlords from purchase through to sale and provides information on income tax, limited companies and Capital Gains Tax, in addition to the list of tax reliefs available to landlords and top tax tips.

Nigel Terrington , Paragon group chief executive, said: “Good tax planning is key. How landlords implement