Responding to the Chancellor’s Budget announcement today Richard Lambert, Chief Executive Officer, National Landlords Association (NLA), said:
“The Chancellor has passed up his last opportunity to reverse the damaging plans to restrict mortgage interest relief for landlords before they hit, or even to act on suggestions as to how he might ease the immediate impact. Sadly, he still seems convinced by the Treasury’s analysis of the consequences, and it looks like he will only change his mind when the reality proves different.
“That’s little comfort to the landlords who will be forced up a tax bracket as a result of the changes or potentially forced out of business, nor their tenants who will be faced either with higher rents or the struggle to find another home in an already pressured housing market.
“However, we’re pleased the Government has listened to our calls to delay the implementation of the Making Tax Digital programme as it has the potential to cause chaos as landlords struggle to get to grips with the demands of submitting quarterly tax returns online”.
To view the NLA's Budget briefing, click here.