Rishi Sunak’s budget holds little of interest for landlords, but a support scheme is announced for vulnerable tenants
For landlords, the most salient parts of the Autumn Budget were the omissions, rather than Rishi Sunak’s raft of announcements.
There was no mention of Capital Gains Tax, nor was there any review of stamp duty. This may come as a relief to landlords, many of whom had been expecting the Chancellor to announce increased property taxation and red tape.
Prior to the Budget, the Department for Levelling Up, Housing and Communities released details of a support package aimed at low-income earners in rent arrears to help prevent homelessness.
This comes after months of lobbying by ARLA Propertymark and other organisations, who have long called for more financial support to be made available to tenants at risk of eviction as a result of the Covid pandemic.
“The £65m funding for those in rental debt provides some support but the devil is in the detail. Almost four million low-income households are in arrears with their household bills, yet this money will be targeted at those who are most at risk of homelessness, excluding a significant number of others from help.”
ARLA Propertymark
Reside is an award-winning independent letting agent in Bath. Please get in touch if you would like to discuss any aspect of letting or managing your property; we would love to hear from you.
Toby holds a Level 3 ARLA Propertymark qualification and runs the 'engine room' at Reside, making sure that properties are perfectly-presented and that they are let quickly at a good rent. When not working, Toby is happiest when enjoying a day's cricket.
