Landlords association reacts to budget

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“Regrettably, there has been no recognition in the budget statement of the barriers to investment presented by the current system of property taxation,” says David Salusbury, Chairman, National Landlords Association (NLA).

“While the NLA believes the Government is justified in closing the Stamp Duty loophole to prevent tax avoidance, the Treasury should not ignore the impact these measures will have on legitimate companies which buy property to let as their primary business activity.

“This is likely to adversely influence investment decisions made by landlords who operate as small businesses and provide much needed housing.

“The NLA will seek discussions with the Treasury to see whether it is possible to differentiate genuine property businesses from companies set up purely for tax-avoidance.

“Calls for a comprehensive review of Stamp Duty continue to be unheard. This could have been a good opportunity to stimulate more investment and encourage growth in the residential property market.”

l Landlords are being reminded about changes to Energy Performance Certificates (EPC) which will affect rental properties in the UK.

An EPC gives information on the energy efficiency and environmental impact of a property, and is mandatory for all private-rented sector homes.

From April 6 landlords and letting agents will have just seven days to produce an EPC after they’ve started marketing the property for new tenants, rather than the previous 28 day period.