A trade body has welcomed calls by a parliamentary committee for tax incentives for the buy to let sector to improve the quality of its property.
The recommendation is made by a House of Lords committee looking at the regeneration of seaside towns and communities.
Following evidence provided by the Residential Landlords Association, the Committee’s report recommends: “The introduction of stronger incentives for private landlords to improve the quality and design of their properties.... This might include tax relief for making improvements to properties.”
The RLA argued that the government should use taxation more positively to support the majority of landlords who do a good job and seek to do the best for their tenants.
This has included the RLA’s call to make tax deductible any work a landlord carries out that is recommended on an Energy Performance Certificate to improve the energy efficiency of rented homes.
John Stewart, policy manager for the Residential Landlords Association, says: “We welcome the recognition this report gives to supporting landlords to invest in raising the standard of housing for their tenants. We call on the government to accept this proposal.”
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I rather suspect that Spreadsheet Phil will not go anywhere neat that!!!
Its about time
Go further: I've written to the Chancellor and my MP several times to suggest that all residential works buy to let or owner occupied should be free of VAT. They would probably collect more tax as builders wouldn't get paid in cash and more people would have a contract so less disputes. Did they listen then? No. Are they listening now? No. Is anyone reading this? Also no.
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