NLA Budget recommendations

by Property 118

12:17 PM, 25th September 2017
About A year ago

NLA Budget recommendations

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NLA Budget recommendations

Ahead of the Chancellor’s next budget on the 22nd of November the National Landlords Association (NLA) has made representation to HM Treasury focusing on support for investment in the Private Rental Sector (PRS) and implementation of the Homelessness Reduction Act.

The summary of the recommendations are:

1) Embark on an immediate review of the removal of finance cost relief for private landlords

2) Introduce a package of Capital Gains Tax reduction measures to encourage the sale of:

  • Poorly performing investment properties.
  • Properties where the proceeds of the sale will be entirely reinvested into the lettings business.
  • Properties invested in, and utilised, for a period of more than 10 years.
  • Properties that are eligible and suitable for sale to existing tenants.

3) Introduce measures to facilitate the tax-efficient movement of a letting portfolio into a corporate structure.

4) Establish a government-backed investment vehicle to allow the sale of properties into a managed fund.

5) Reintroduce the Landlords’ Energy Saving Allowance (LESA), and establish a level sufficient to improve the tax efficiency of carrying out relevant works.

6) Set LESA at a level sufficient to improve the tax efficiency of carrying out works

7) Fund the expansion of Help to Rent nationwide

8) Establish a national deposit guarantee scheme for the private rented sector

9) Remove the Capital Gains Tax surcharge for property sales

10) Introduce Capital Gains Tax tapering and business asset rollover relief for private residential property which is let.

11) Abolish the Stamp Duty Land Tax levy on additional property

To download the full NLA Budget submission to the Treasury please Click Here



Comments

Dr Rosalind Beck

13:49 PM, 25th September 2017
About A year ago

Not a bad list and very pleased to see s24 at the top as well as the CGT points.

Annie Landlord

17:54 PM, 25th September 2017
About A year ago

I would have added stopping councils charging full council tax for vacant properties, when the property is only vacant because a tenant has trashed it and the landlord is trying to put it back together to relet it!

Michael Holmes

20:23 PM, 25th September 2017
About A year ago

How naive, you don't really think a cypher like Hamilton can take in the finer nuances of the PRS economic problems associated with Osborne's and Carney's attack on it! The fact is, the Government is so strapped for cash, they would see the armed forces reduced to a local militia and they still won't be able balance to the books as long as they pursue their non-austerity program. With the reprieve that Corbyn's revival has given the Labour Party, the Conservatives don't dare do anything that smacks of a favour to Capitalist interests, so I for one am not popping any Champagne bottles yet!

Mark Shine

20:50 PM, 25th September 2017
About A year ago

Reply to the comment left by Michael Holmes at 25/09/2017 - 20:23Agree with you, that list is extremely naive and doesn't strike me as a sensible way to negotiate with the political elite. But completely disagree with your comment 'the Conservatives don't dare do anything that smacks of a favour to Capitalist interests'.
Other than obviously trying to appease the easily manipulated Guardianistas/HPCers, with manipulative 'doublespeak' rhetoric, S24 has obviously been implemented with (the wealthiest and most exploitative) PRS capitalists interests in mind.

Michael Holmes

22:16 PM, 25th September 2017
About A year ago

Hmm,

I don't think I can go along with that level of cynicism, you forget who you are dealing with here, Osborne and Carney really didn't have the mental capacity to foresee what the likely outcome of their machinations would be, all they could see was a brake on buy-to-let and a boost for the exchequer. The unintended consequences passed them by completely.
'

Mark Shine

22:41 PM, 25th September 2017
About A year ago

Reply to the comment left by Michael Holmes at 25/09/2017 - 22:16If the political elite are genuinely as dumb as a box of rocks, you could be quite right.
If however, they're not quite so dimwitted as you claim and are in fact just (heavily) influenced by the "establishment", then I suspect you may find my take on the situ might be closer to the truth. 😀

Dylan Morris

9:05 AM, 30th September 2017
About A year ago

I love recommendation number 3) that's really funny. These NLA people really are a bunch of useless clowns.

Mark Shine

20:53 PM, 30th September 2017
About A year ago

Reply to the comment left by Dylan Morris at 30/09/2017 - 09:05
I actually thought No 3 was quite sensible given the S24 clearly protects & gives illogical advantage to the wealthiest of LLs. In fact if I were the NLA I might have considered making the list ONLY No 3 purely as an attempt to call the establishment & their chums (political elite) bluff! 😂


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