As accountants looking after owner-managed SMEs needing to make a step change in their growth, we are often asked how they should do this. A common solution is to recruit a good senior person to help the owner grow the business further.
However, it's difficult to attract the right calibre person with the budget you have available, so let the tax system help you.....
If you let out a residential property, you shouldn't underestimate the effects of some important changes to the tax rules.
Tax is like any other cost. It reduces the return you get from your asset. Therefore if your tax cost increases, your return decreases and this may affect your view as to whether your property remains a good investment.