Tax hikes the main concern for UK landlords
The removal of tax relief on mortgage interest payments is the main concern for UK landlords.
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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