The Financial Times has printed a rare letter in defence of landlords. The letter comes as a response to a recent FT article that accuses us of exploiting tax loopholes.
As the letter points out, deducting mortgage interest, expenses, fees and repairs from rental profit is not exploiting any loophole, only following the tax laws laid out by the land.
I can't think of any other business that would get criticised for following basic business accounting.
If landlords were pretending to be managing their portfolio of Leeds two up two downs from Antigua or Grand Cayman Islands then maybe I could appreciate the papers' sentiments a little more.
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