Change in French tax Laws?

Hi all,

I came across this article

If its true and applies to leasebacks it would not be good news

expenses benefits

By Craig McGinty on Apr 4, 2011.

Owners were allowed to deduct expenses such as mortgage interest, cleaning, agent commission, utilities, business rates, insurance and any improvements and furnishings from their rental income.

For example, if your annual rental income is £10,000 but your total expenses £15,000, and you made repairs totalling £5,000, your loss for the year would be £10,000.

In the past you were able to offset that loss against your other income. But not any more.

via www.guardian.co.uk

http://www.thisfrenchlife.com/thisfrenchlife/2011/04/owners- of-holiday-homes-lose-tax-relief-on-interest-and-expenses-be nefits.html?utm_source=feedburner&utm_medium=feed&ut m_campaign=Feed%3A+thisfrenchlife+%28This+French+Life%29

anyone heard of it

rgds

Dermot