Despite the recent changes to the tax relief system, buy to let investors can still enjoy around £16.7 billion worth of tax relief, say researchers.
The revelation from estate agents ludlowthompson points to the fact the money is available over the next two years before new rules are phased in.
Tax relief enables a BTL landlord to offset rental income expenses including finance and mortgage costs, property maintenance and repairs as well as professional management fees against their tax bill.
They can also claim, currently, for ground rents and insurance.
Now the Treasury has revealed the amount of tax it expects to collect from landlords will increase by 2021 to £840 million every year after the tax reliefs end.
Landlords have claimed £17.5 billion over the last year
From their research, ludlowthompson says landlords have claimed £17.5 billion over the last 12 months in property expenses and claimed more than £7 billion in tax relief on their financial costs and mortgage interest.
The data also reveals that landlords claimed £3.7 billion for property maintenance and repairs.
However, the firm says that even after the planned tax relief changes are implemented in full, landlords can still claim around £6.4 billion on their interest rate bills.
The firm's chairman, Stephen Ludlow, said: “BTL tax breaks, despite tightening, are still valuable and highlight that a rental property remains an attractive investment.”
He added that tax breaks help ensure landlords will continue their invest in the maintenance of their properties and if these tax incentives are reduced then landlords are likely to reduce their investment levels as well.
This will have an overall impact of reducing the quality of the UK's rental accommodation, he says.
Rent rises will 'accelerate' in 2018
Meanwhile, rents in the UK grew by 0.56% last year with rents in the capital's commuting hot spots leading the gains, reveals Landbay.
The firm's rental price index highlights that renters in nearly half of London's popular commuter towns are seeing increasing rents as well as increasing rail fares for their journey to work.
Of the 40 routes monitored, 17 of them had seen the financial burden of renting there grow.
The firm's chief executive, John Goodall, says that commuters are facing a double financial whammy with rent rises being fuelled by greater tenant demand and increasing season-ticket costs.
He added: “Rent price growth is also expected to accelerate in 2018 as well.”