Finance and Taxation Reform

Disappointing Autumn Statement for Landlords

Autumn Statement
Sally Walmsley
Written by Sally Walmsley

It was a disappointing day for landlords, with Philip Hammond’s announcement in the Autumn Statement to ban letting agent fees paid by tenants  yet another blow to the private rented sector.

In his Autumn Statement, the Chancellor said he was taking action against ‘spiralling’ unregulated fees charged by agents, passing the fees onto landlords, a move which will inevitably push up rent for tenants.

And while there were no big surprises there was other worrying news – that tax on insurance premiums will go up by 2% and the announcement that the Government is planning a review into the way incorporated businesses are taxed.

The news of the review comes after thousands of landlords have made the decision to incorporate following last years’ Mortgage Interest Relief announcement in a bid to reduce tax liability.

The Chancellor’s decision to ignore the opportunity to look at Mortgage Interest Relief was also a big disappointment, after calls from across the industry to reverse this unfair tax-grab on landlords.

There were also no changes to the Stamp Duty surcharge introduced by George Osborne.

Watch our chairman’s reaction to the Autumn Statement below:

To read the full Autumn Statement documents click here. 

Please let us know your thoughts about the Autumn Statement in the comment section below.

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.

2 Comments

  • We would like to know what the RLA is doing about the Autumn Statement and the taxes imposed on us by Mr Osborne. Have you represented Landlords in a presentation to the Chancellor or to Theresa May, for example.?

    I have been a landlord for twenty five years and can see that it is not going to be worth my while after 2020 if these unfair taxes are allowed to run.

    We look to organisations like yours to defend us and give us a voice.

    Thank you.

    Andrew West
    A.West Property.
    01223 277277.

  • I think this knee jerk response is not very well thought through, not does it represent the real interests of landlords. Yes the ban of agent letting fees may lead to higher rent but there is a significant benefit to landlords. It will now be harder for unethical letting agents to fleece OUR tenants with spurious fees that were not advertised. When will RLA learn. We are not the private rented sector. We are landlords and we landlords are often let down by letting agents behaving badly. Fewer angry, ripped off tenants will be good for us. RLA needs to make up its mind – does it represent landlords or the whole property industry?

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