A recent report published by the Chartered Institute of Housing and the Resolution Foundation, which RITA4Rent provided input as acknowledged, recommends a reviewed set of minimum standards, with regulation ensuring that “accredited” landlords benefit from more favourable tax breaks, whilst those “unaccredited” suffering as a result. The full report is available to read here.
Simply Business reported on this recently, with a quote from Richard Blanco of the National Landlords Association stating: “Landlords run businesses and anything that encourages us to reinvest our profits or improve our properties is to be welcomed. Rogue landlords ruin our reputation and we want to drive them out.”
One major suggestion highlighted in the report focuses on the introduction of capital gains tax rollover relief for private landlords, which is essentially a delay mechanism in payment of capital gains tax. At present, given that rental income is treated as an “investment” rather than a “trade” this relief is not usually available, the “usually” statement meaning that there are some exceptions, such as Furnished Holiday Lets.
The Chartered Institute of Housing also released a news feature on the subject; follow this link for further reading.