The Chancellor George Osborne delivered the Government’s latest budget last week.
While there were no major shocks for landlords he still managed to exclude residential property from the reduction in Capital Gains Tax, again proving he is no friend of the independent residential landlord.
Other announcements affecting the Private Rented Sector include:
- All landlords to be included in the three percentage point increase in Stamp Duty Land Tax on additional properties.
- 40% income tax threshold increasing to £45,000 from 2017 and
- Insurance Premium Tax rising by 0.5% to fund flood relief schemes.
The RLA wants to gauge the reaction of our members and would be grateful if you would fill in our short survey, the findings of which will inform our future campaigning work.
To view RLA Chairman Alan Ward’s reaction to the budget click here.