The business of buying and letting property can be compared to playing three dimensional chess. Decisions made at one stage will affect the tax payable, and the deductions allowable for tax, at later points in the property business life-cycle.

There are plenty of traps to trip-up the unprepared landlord, so planning ahead will always pay dividends. But remember, property investment is a long term business and tax laws may change with short notice and impact the profitability of the business, so a degree of flexibility is necessary in every plan.


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