Leading accountancy firm Bishop Fleming head of tax has warned that the rental sector is completely unprepared for the changes coming to the buy to let sector.

Andrew Browne has warned that the gradual phasing out of higher rate mortgage tax relief is causing great fear amongst clients.

By 2020 mortgage interest tax relief will be restricted to 20% and will leave higher rate taxpayers with larger bills

Coupled with this Browne has urged caution to people looking to transfer their ownerships in to companies as this may cause future issues with mortgages, capital gains and inheritance taxes.