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I am curious. I have some family who moved from the states to the UK a few years back. I am not sure if they are considered citizens or they are there on a work visas. They would like to invest but are not sure what they need to do this or if they even can. Any ideas?
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It is my understanding there are no restrictions on who can buy investment property in the UK.
A recent tax law change here is making buy-to-let (the UK's words for 'rental property') a significantly worse investment. You can no longer deduct mortgage interest from your rent before paying tax, so any landlord whose mortgage interest is more than 75% of their rent will have to pay their WHOLE profit in tax, possibly more.
As an aside, this is a New Zealand based website, so you'll find the overseas forums aren't very active at all, so you won't get a lot of replies.AAT Accounting Services - Property Specialist - [email protected]
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There's no restrictions, hence why the UK is such a popular (read bubbling) property market. Only a matter of time before it pops.Comment
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> What is needed in the UK to invest in property?
Money
Regarding mortgage interest deduction you can still deduct part of it until 2020.
Deductions from property income will be restricted to:
- 75% for 2017 to 2018
- 50% for 2018 to 2019
- 25% for 2019 to 2020
- 0% for 2020 to 2021 and beyond
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