RLA Submits Wish List to the Chancellor

The Residential Landlords Association (RLA) has demanded the Government stop planned changes to mortgage interest relief and have submitted a seven point wish list ahead of the Spring Budget.

The list includes scrapping planned changes to mortgage interest relief, or only applying it to new borrowing; waiving the 3% stamp duty levy on second home purchases; removing the anomaly that means VAT can be reclaimed on goods and services on a new dwelling construction but not when it is constructed to rent out; reviewing the financial capabilities of landlords to meet the new energy efficiency requirements coming into force in 2018 and providing modest funding to improve access to the PRS for the homeless.

The RLA is encouraging Philip Hammond to look at the bigger picture and to consider the impact their tax raid will have on the wider economy.  Alan Ward, RLA Chairman, says “This is not just a wish list that will benefit landlords and tenants, but one that will benefit the economy as a whole. The Treasury Select Committee warned a year ago that measures taken to curb buy-to-let would come at a cost to the wider economy and we would ask the Government to take heed of this.

The time for change is now, and we hope the Government will take the opportunity to grasp the nettle and rethink some of the unfair tax changes set to have a devastating impact on landlords ahead of the Budget on 8th March.”

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