Almost £13million a week was raised in property taxes for the Scottish Government, new analysis has revealed.
Letting agents have warned that stifling rental home supply in Wales through higher taxes or by landlords passing on costs to tenants could jeopardise the PRS.
Over two thirds of private renters in the UK believe it is ‘too easy’ for landlords to take advantage of tenants, much higher than the global average of 59%.
Stamp duty bills will almost double from £8,452 to £16,190 in April, an increase likely to spark higher rental costs as landlords attempt to recoup costs.
The Welsh Government has followed its counterparts in England and Scotland and raised the stamp duty that landlords buying rental properties must pay, effective from tomorrow.
Landlords and agents have slammed the Scottish government’s decision to increase the Additional Dwelling Supplement (ADS) under Land and Buildings Transaction Tax from 6% to 8%.
The Institute for Fiscal Studies (IFS) has slammed the Stamp Duty rise for landlords, warning that tenants will suffer as a result of the Budget announcement.
Landlords will face an additional average charge of more than £7,000 from tomorrow when buying a property thanks to an uplift in Stamp Duty charges.
