HMRC’s quiet rewrite could trap profits landlords have already paid tax on
21st July 2026
The controversy surrounding HMRC’s recent rewrite of BIM45690 and BIM45700 initially appeared to concern a relatively narrow question: whether a landlord can refinance a property business, withdraw capital and continue to obtain tax relief for the interest where the money withdrawn is then used for personal purposes. The implications may be considerably wider than that. […]