Wednesday, 27 July 2016

Tax Changes Will Increase Rents For Tenants

A new report from the TaxPayers' Alliance calls on the government to undertake real reform to tackle the housing shortage in the UK. Successive governments have avoided meaningful reform, instead focusing on tinkering around the edges which has only served to worsen the situation and drive up prices. Recent tax changes will also drive up rents. The recently implemented 3 per cent Stamp Duty additional homes surcharge and new restrictions on finance cost relief will also advantage richer prospective buyers at the expense of poorer tenants. Further, the TPA renews its call for the abolition of Stamp Duty, an unfair tax which stops people from buying their own home. Read more on the TPA website.

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