Government urged to consider landlords in Budget

News Category: Management

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The government has been urged to make special concessions to landlords in next week's Budget announcement.

According to the Association of Residential Letting Agents (Arla), many investors are put off making block purchases because of the resulting stamp duty bill.

Therefore, the organisation has suggested that this system be revised to prevent landlords being hit with the highest possible rate of payment.

Arla also proposed that the government's stamp duty policy could be tied in with its aim to tackle climate change.

For example, it said landlords who improve the energy efficiency of an older property to an approved standard should have their stamp duty refunded.

Ian Potter, spokesperson for the organisation, added: "There could also be a 'clawback' facility whereby the government could claim back the refunded stamp duty if the property was not kept for a given period."

This comes after email4property.co.uk revealed that a growing number of homeowners are entering the rental market instead of selling it for an unsuitable price.

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