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.
Sunak claims defence spending plan won’t affect government’s ability to cut
taxes – as it happened
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