Tax Reforms Harming Access To Rented Housing For ‘Vulnerable Tenants’

Residential Landlords Association (RLA) is pointing to figures out today showing surveyors believe private sector rents will increase by more than 20% over the next five years. The predictions come just weeks before changes are introduced that will mean landlords are taxed on their turnover rather than profit, and mortgage interest relief begins to be cut to the basic rate of income tax. The data confirms assertions that rents would need to increase by between 20% and 30% for landlords to offset the impact of these measures, coming alongside a stamp duty surcharge on the purchase of homes to rent out. Read more on 24housing.