Today: Last Update:











Poll

Do you expect to see less or more second charge mortgage lenders in 2018?



25% of BTL landlords selling up over tax changes


BTL landlords

A quarter of buy-to-let landlords are selling their homes as a result of government tax changes, according to the Residential Landlords Association (RLA).

The RLA found that of the 1,000 landlords it surveyed, 25% had either sold one of their properties or had one on the market following the government’s decision to change mortgage interest relief and tax them on income rather than profit.

The trade body believes this means many landlords on the basic rate of income tax would find themselves pushed into a higher tax rate, despite income not having increased.

The research found that 68% of landlords said the changes would reduce their profitability by a least 20% with 14% saying it would reduce profits by over 60%.

The RLA has warned that these changes are likely to impact tenants who could either lose their homes or face higher rents as landlords look to reduce the financial impact.

David Smith, policy director at the RLA, is now urging Philip Hammond to reverse the decision in next week’s Autumn Statement.

“The RLA’s findings are a worrying sign of the potential trouble ahead for tenants as a result of the previous chancellor’s tax rises.

“Any reduction in supply is going to make it more difficult for them to find a place to live and will inevitably drive rents up.

“Ahead of the Autumn Statement we are calling on the new chancellor to consider the evidence, reverse policy and support growth in the rented sector.”

The proposed tax changes are set to be phased in from next year. 





Post your comment:

I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.