Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Agents Angry at Latest Tax Hit for Private Rental Sector
Letting agents have reacted angrily to the latest tax hit on the private rental sector. Yesterday's Budget announced an extra 2% on income tax from property revenue, due next spring.
According to Letting Agent Today, the additional 2% comes on top of the 2% rise first announced a year ago.
The report gives no further detail on how the measure will be implemented, and no named commentary from agents or industry bodies. Letting agents and inventory clerks across the UK's private rented sector will be watching for guidance on how the change affects landlords and, in turn, the services and instructions they rely on.
The Property AI will update this brief if further confirmed details emerge.
Source: Letting Agent Today