Buy to let activity increased by 12.7% in August as the
sector successfully absorbed policy changes and enjoyed a post Brexit bounce,
according to new research. Changes to the tax treatment of the buy to let
sector looked to be choking off activity in 2015 and early 2016, says the
latest report from Connells Survey and Valuation. Although the restriction of
tax relief on mortgage finance costs to basic rate tax only, the removal of the
10% wear and tear allowance, and the introduction of additional 3% stamp duty
surcharge hit the sector following the 2015 budget and the last Autumn
statement, but the report explains that the August rebound suggests the
Government’s changes are set to have been a short term problem for the sector.
Read more on the PropertyWire website.
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