The Residential Landlords Association has launched its quarterly survey on the state of the PRS – focusing on the areas of tax and finance.
The short survey will take around 10 minutes to complete and includes questions on issues including the Government’s recent tax changes.
The findings will help the RLA better understand the key issues affecting private landlords right now – as well as informing its future policy work.
Alan Ward, RLA chairman said: “Part of our strategy to ‘make renting better’ is to undertake a review of the private rented sector. We are conducting quarterly surveys to assess the state of the PRS and the purpose of this survey is to understand the tax and finance issues affecting landlords.
“George Osborne has attacked the PRS with a range of legislation designed to penalise the private landlord. Some of these changes such as the 3% stamp duty surcharge have already been implemented.
“Others, including cuts to mortgage interest relief and the decision to exempt residential property from the reduced capital gains tax have yet to be finalised.
“In the survey we are asking landlords exactly how the chancellor’s announcements have affected their business and about their plans for the future.
“If is vital that when we are making representations to Government we have evidence to back up what we are saying. The data we collect through the survey will also help us plan our campaigns work moving forward.”
The survey includes questions on what effect budget changes will have on income, as well as which tax changes will have the biggest impact.
It also asks landlords about their confidence in the sector and whether the recent charges will affect their decision to invest in the PRS in future – or see them sell up.
Involvement in the research project is entirely voluntary, anonymous and participants are free to withdraw at any point and all information will be kept confidential. Only anonymous aggregated data will be presented in the report.
The RLA has this month submitted evidence to the Government on the issues of stamp duty, capital gains tax and mortgage interest relief ahead of the Finance Bill committee.
The submission called for new build properties to be exempted from the new stamp duty levy, called for mortgage interest relief to apply only to new borrowing and for capital gains tax to be reduced to 20% where a landlord is selling a property to a sitting tenant.
The RLA has already built up support among backbenchers and MP Kevin Hollinrake is tabling an amendment to the Finance Bill based on the RLA’s proposal on CGT.
Figures from Savills suggest a further one million homes to rent will be needed by 2021, meaning the Government will become increasingly reliant on the PRS landlords The RLA is committed to ensuring they are given the help and support they need to make their businesses work to provide homes that are so desperately needed.
— LandlordZONE Press (@LandlordZONEPR) July 13, 2016