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2016 Budget survey – have your say

Sally Walmsley
Written by Sally Walmsley

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.

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.

About the author

Sally Walmsley

Sally Walmsley

Sally Walmsley is the Communications Manager for the RLA and award-winning Editor of RPI magazine. With 16 years’ experience writing for regional and national newspapers and magazines she is responsible for producing articles for our Campaigns and News Centre, the weekly E-News newsletter and editorial content for our media partners.

She issues press releases promoting the work of the RLA and its policies and campaigns to the regional and national media and works alongside the marketing team on the association’s social media channels to build support for the RLA and its work.

3 Comments

  • CGT has been reduced for his friends on the stock market.
    Long term investment is not the way forward, those who sell shares on a day by day basis and provide nothing in return to the real world get to pay less, what is the point of investing long term.
    Mr Wilson in Ashford sold his portfolio of 900+ houses to the Chinesse, so no icome for George, in Tonbridge a landlord of 24 houses has sold half, so 12 more people looking for rented accomadation, Banks has sold his 450 properties, the family have many tenants who have lived 30+ years in the same house, pay below market rent and the new buyer in the city has given eviction to 45 renters, (short term quick profit), all who will now ask the council for a home which they dont have. George made chages to interest tax relief, and look at what is happening, what a fool George, my small holding of 24 houses will slowly be sold, and I guess they will fall on the council to rehouse as my rents mirror LHA, below market rate.

  • UK landlords, on the whole doing a great job, what have they done to deserve all the tax rises and exclusions from tax cuts?

  • Another useless budget from a chancellor who is not fit for purpose. His previous budgets including, the pastie tax,the unfair removal of child benifit where a couple earning £99,000 are entitled to it but a single parent earning £50,000 are not. Then the removal of tax credits overturned by the house of Lords. The introduction of clause 24 which will cripple the buy to let business which taxes interest on mortgages as if it is a profit. Finally in this budget the reduction of capital gains tax for the MPs and the rich who can afford not to rent out their second homes when they decide to move them on. His crechendo was of course to attack the disabled. This does not add up to a good cv for a priminsteral job. We await a successful judicial review to dismantle clause 24. Let’s hope that there is still some sense of justice in the legal system, if so clause 24 is shredded along with Osborne’s cv.

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