Government “declares war” on Landlords

In his New Year Message David Smith the Policy Director for the Residential Landlords Association speaks  about the attack on Landlords by the Government during 2015, he says that it is no exaggeration to say last year turned into an annus horribilis for the residential landlord.

He pointed out that The Residential Landlords Association’s job is to protect landlords, mentioning that 36% of  subscriptions go into the annual fighting fund of more than £600,000 that runs the campaigns team.

In his article he says:  By attacking the Private Rented Sector Chancellor George Osborne is attacking the very people who are providing homes for those who cannot afford to buy and those for whom councils cannot find a home.

He is attacking those of us who help social landlords when they can’t cope with demand and even those who have opened their doors to cope with the scores of people rendered homeless by the recent floods.

George Osborne has effectively declared war on individual landlords. His three pronged attack hits the very foundations.

Mortgage interest relief will be cut to basic rate tax progressively from 2017.  Next April sees the 3% stamp duty surcharge for rental property, and Capital Gains Tax changes are in the pipeline too.

To view the New Year Message in full on the RLA website click HERE

Read also  Opposition to tax relief changes for landlords

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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