Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Chancellor Urged to Ease Landlord Costs in Budget
Property sector figures are urging the Chancellor to ease landlord costs in the Budget. Landlords need help with property improvements and greater certainty over tax, according to those figures.
Adam Hills, client services director at LRG Living Markets, has called for targeted tax reliefs, enhanced capital allowances or accessible finance to help landlords pay for qualifying improvements.
He points to the government's consultation response, which estimates figures relevant to the cost of such improvements.
What This Means for Letting Agents and Inventory Clerks
The calls centre on two areas of concern for the UK rental sector: the cost of improving properties and the level of certainty landlords have over tax.
For letting agents and inventory clerks, the outcome of the Budget could affect how landlords approach property improvements and compliance-related work. The request for targeted tax reliefs, enhanced capital allowances or accessible finance is aimed at helping landlords fund qualifying improvements.
No specific figures, rates or confirmed policy measures have been announced in the source report. The calls are being made ahead of the Chancellor's first Budget.
Source: Property118