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Losing buy-to-let tax relief is a key concern for landlords this year

Landlords' New Year's wish for buy-to-let tax relief to continue

By Maurice Shasha  //  Mon 9th January 2017
UK landlords' main wish for 2017 is for the government to scrap plans to remove buy-to-let tax relief.
If landlords have a New Year's wish, it is for the government to abandon their plans to remove tax relief on mortgage interest payments.

According to a Landlord Voice poll carried out by Simple Landlords Insurance, the tax increases, due to be phased in from April this year, are the main concern for UK landlords.

47% of participants in the poll said the pending tax increases were their top concern heading into 2017.

Following in second place, behind the removal of buy-to-let tax relief, is the wish for a reversal to stamp duty increases, while in third place, the wish is for a reduction in capital gains tax.

Landlords hoped Chancellor Philip Hammond would announce the decision to either amend or abolish stamp duty increases in last November's Autumn Statement, but the Chancellor made no mention of stamp duty at all.

In a further blow for landlords, the Chancellor also announced the government's decision to place a ban on tenants having to pay letting agents' fees.

It's not all doom and gloom, however, as the vast majority of landlords remain positive about the future, with 36% of landlords setting their confidence levels at eight out of ten, while 88% of landlords still expect to remain as landlords in the year ahead.

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