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Scrapping the higher stamp duty for landlords would raise £10bn

The Government could benefit to the tune of £10bn if it scrapped the stamp duty levy on the purchase of homes to rent out. According to analysis by Capital Economics, removing the 3% levy would see almost 900,000 new private rented homes made available across the UK over the next 10 years. 

Due to increases in income and corporation tax receipts, the modelling suggests this would lead to a £10bn boost to Treasury revenue over the same period.  Also, Capital Economics notes that these revenue streams would continue over the decades that follow, so long as the landlords do not later sell all these properties. 

The National Residential Landlords Association, which commissioned the research, has called on the Chancellor to adopt this proposal amidst a chronic shortage of homes to rent.

Capital Economics has warned that, if owner occupation and social housing continues at its 10-year average rate of growth, this would require a significant increase in the supply of private rented homes. Almost 230,000 new homes would be needed in the sector each year if government ambitions for housing over the next decade are to be met.

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