subscribe(at)bridging4u.co.uk      +44 (759)-976-2285

Remove new tax on buy-to-let homes call by landlords

1/10/2017 12:00:00 AM   0 Comments   bridging loans, buy to let

Buyers currently pay an extra 3% levy on their stamp duty when purchasing a property to rent out.

A landlord group wants the new Welsh Land Transaction Tax (LTT) to remove the levy where a landlord is adding to the housing supply.

The Welsh Government says the revenue made by the higher rate is "essential to the delivery of public services".

LTT will replace stamp duty in Wales in 2018.

The Residential Landlord Association (RLA) says the levy will limit supply and push up rents and wants it scrapped "where landlords invest in housing adding to the net supply of homes", such as new builds.

Douglas Haig, vice chairman of the Residential Landlords Association and its director for Wales said: "The government has rightly made boosting the supply of housing, including homes to rent, a priority.

"Whilst we believe the planned levy on homes to rent out will most hurt vulnerable tenants needing a place to live, the assembly has an opportunity to make constructive changes to the bill to rectify this and back the nation's tenants."

Admin   http://www.bbc.co.uk/news/uk-wales-politics-38560571
Read Article


Recent Articles

News item number 66

BoE questions big banks over buy-to-let lending

11/30/2016 12:00:00 AM - 0 Comments
Lenders interpret probe as signal for further curbs on landlords
News item number 81

Commercial lender writes £384m of business

1/17/2017 12:00:00 AM - 0 Comments
Commercial real estate lender Aeriance Investments S.à.r.l. has revealed it wrote approximately £384m (€437m) of business during 2016, soaring past last year’s figure of around £237m.
News item number 49

Popular buy-to-let tax loophole 'won't work', accountants warn

10/26/2016 12:00:00 AM - 0 Comments
A controversial tax manoeuvre allowing landlords to transfer buy-to-let properties into a limited company without having to remortgage, has received a flood of inquiries.


  About

Bridging4U is a souce of information for property investors and buy to let landlords to keep up to date with what is happening with the property and buy to let bridging loan market and the latest trends.

  Recent Images
thumbs 34 thumbs 35 thumbs 36
thumbs 37 thumbs 38 thumbs 39
thumbs 46 thumbs 47 thumbs 48
  Contact Us
  Bridging 4 U

High Street,
Royal Wootton Bassett, Wiltshire. SN4 8FP.

Tel : + (0759) - 976 2285
Mail : subscribe@bridging4u.co.uk
Business Hours : 9:00 - 9:00

Copyright © 2015 - 4 You Media Ltd

Visitors: 297408