Agents make 11th hour tax plea to Chancellor Healey
Summary
Propertymark is urging the Chancellor to use the Budget to review the cumulative tax burden on private landlords, including mortgage interest relief, Capital Gains Tax and additional-property Stamp Duty. It also calls for wider reform of property taxation, energy-efficiency incentives and Local Housing Allowance uprating to support market stability and rental supply.
Why it matters
These proposals affect landlord investment decisions, transaction volumes and the affordability of rental housing, all of which are relevant to surveyors advising on residential assets. The article also touches on tax and policy settings that can influence buyer behaviour, retrofit decisions and regional market dynamics.
Key points
- Propertymark wants a comprehensive review of property taxation affecting private landlords.
- It highlights the cumulative impact of mortgage interest relief restrictions, Stamp Duty surcharges and Capital Gains Tax.
- The group calls for a review of Stamp Duty thresholds and the proposed High Value Council Tax Surcharge.
- It supports energy-efficiency improvements but wants stronger financial incentives, including possible VAT relief and restoration of the Landlord’s Energy Saving Allowance.
- It says Local Housing Allowance should be uprated to keep pace with local rents.
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