NRLA South West: What will the Budget on 3rd March mean for landlords?
Is there any cause for optimism amongst landlords, or will the Chancellor continue the work of his predecessors and target the private rented sector to help pay the coronavirus bill?
Speculation has been rife on the future rates of Capital Gains Tax ever since the Office of Tax Simplification completed its review and gave Rishi Sunak a range of options, including raising CGT to income tax levels. The higher threshold for standard stamp duty payments is due to end on 31st March. Will there be an extension, or will the Chancellor follow the example of Scotland and Wales and hike the additional home surcharge to 4%? Is there any hope that s24 restrictions on mortgage interest relief will be extended, or Making Tax Digital roll-out be delayed?
Deputy Policy Director, John Stewart, will outline the NRLA proposals for the 2021 Budget and consider the options open to the Government.