According to a Landlord Voice poll from Simple Landlords Insurance, 47% of landlords who participated in the survey cited tax increases as their biggest concern.
From April 2017, landlords will start to lose mortgage interest tax relief on loans, and this will be phased in over the next few years.
However, this tax change will not affect landlords who hold properties through a limited company.
After tax changes, stamp duty increases were the second biggest concern for landlords, while in third place was capital gains tax.
Landlords have long called for the extra 3% stamp duty surcharge, introduced in April 2016, to be either amended or scrapped altogether, while many have also called for a reduction in capital gains tax.
In his Autumn Statement in November last year, Chancellor Philip Hammond also announced the government’s plan to ban letting agents’ fees for tenants.
Despite many recent changes for the buy-to-let sector, landlords are generally upbeat. According to the same report, 88% of landlords plan to remain a landlord in the year ahead.
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Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.
Landlords are advised that the government has released a new version of its How to Rent Guide which takes into account new legislation.
Landlords must comply with the Deregulation Act 2015 or face hefty fines and lose the ability to evict troublesome tenants. Here we explain the implications of The Act for landlords.
Landlords are responsible for ensuring that their properties are safe for tenants to occupy. So they must keep up to date with all the health and safety regulations for private rented properties.
