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HMRC has opened a pilot scheme for the proposed Making Tax Digital service for quarterly reporting. From 22 April 2024, agents can voluntarily sign up their landlord clients if they meet certain criteria.
Propertymark’s Head of Policy and Campaigns, Timothy Douglas, met Patrick Harvie, MSP, as part of the Scottish Government’s Private Rented Sector Stakeholder Group to discuss the Housing (Scotland) Bill and continued to assert that rent control proposals should be dropped in favour of focusing on other actions to make the private rented sector more affordable. This will ensure there is an adequate housing supply that meets increasing demand and tackling existing inequalities of income and wealth.
A short consultation has been issued by the Welsh Government that would abolish LTT (Land Transaction Tax) Multiple Dwelling Relief from 1 June 2024 and would mean landlords purchasing more than one property from the same seller in a single transaction or linked transactions will no longer be able to claim back a proportion of their LLT liability.
Propertymark supports Welsh Government proposals to extend the time allowed to apply for refunds and exemptions to land transaction tax (LTT) higher residential rates for taxpayers affected by fire safety defects or emergency restrictions but calls for the Covid-19 restrictions to be included.