Tuesday, 12 July 2016

Tenants Will Pay The Price Of Landlord Tax Changes

Tenants face inevitable rent hikes unless MPs move to halt what the Residential Landlords Association (RLA) has called the Government’s “unfair tax grab” targeting its members. Government plans to tax landlords on their income rather than after allowances – part of the loss of mortgage interest relief (MIR) could make tenants the victims of the tax changes, the organisation said. It is claimed that legislation now going through Parliament to implement the Budget will see landlords’ tax bills soar and in some cases will wipe out their profit altogether. As the supply of rental homes falls and remaining landlords are face higher overheads it is inevitable that rents will rise to cover costs, according to the RLA. Read more on the RLA website.

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