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Displaying 87 results
Welsh Assembly, Cardiff.jpg
28 Nov 2023
Propertymark Welsh Budget representation

Focusing on the key housing sector themes, Propertymark is calling for prioritisation of work with the PRS on homelessness, investment in reliable data collection, and a boost in support for decarbonisation.

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22 Nov 2023
Autumn Budget and Spending Review 2023

Local Housing Allowance (LHA) will at last be unfrozen and Universal Credit (UC) will rise under UK Government tax and spending plans announced by Chancellor of the Exchequer, the Rt Hon Jeremy Hunt, MP, today, 22 November 2023. Rate relief and full expensing for businesses are also included.

Timothy Douglas provides evidence on impact of Scottish letting legislation.jpg
21 Nov 2023
MSPs told additional council tax proposals not effective

Propertymark gave evidence to the Scottish Parliament’s Local Government, Housing and Planning Committee on 21 November 2023 outlining that the Scottish Government’s plans to increase council tax premiums on second homes are not an effective policy measure to increase the supply of homes and grant funding is needed to support getting empty homes back into use.  

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01 Nov 2023
Single council tax bands for HMOs by end of 2023

Shared housing tenants in England may save as much as £1,000 a year after the UK Government announced it is ending the practice of council tax banding individual rooms in houses in multiple occupation, a move Propertymark supported in our response to the consultation in March 2023.

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23 Oct 2023
Propertymark issues representation ahead of Autumn Budget

With a General Election on the horizon, the UK Government has an opportunity to support landlords, tenants, and property agents with the impact of the cost of living through welfare reform, bring down energy bills by improving the energy efficiency of homes and reducing the tax burden on landlords and investors to tackle the demand the crisis in the private rented sector.

Couple packing boxes getting ready to move
09 Oct 2023
Rachel Reeves presents her offer to prospective homeowners

In a speech designed to remind voters of her economic pedigree and credibility to manage the economy, Shadow Chancellor Rachel Reeves announced her intention to increase the Stamp Duty surcharge for overseas buyers.

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06 Oct 2023
HMRC raise red flag on hybrid tax avoidance schemes

Sometimes called a hybrid business model, the schemes are being used by individual landlords to avoid paying tax on their property income and reduce capital gains tax. Those who use these arrangements may have to pay more than the tax they tried to avoid as well as paying interest, penalties, and high fees.

Empty house.jpg
19 Sep 2023
Council Tax set to double for second homes

The Scottish Government has put proposals before Holyrood which would give local councils the discretion to charge Council Tax premiums of up to 100% on second homes, bringing them in line with long-term empty properties. If approved, the new measures could come into force by April 2024.

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04 Sep 2023
Tax policies must incentivise landlords, not drive them out of the sector

The private rented sector (PRS) is a key housing provider across the UK and to encourage investment and reduce rents, the UK Government must review the impact of tax and financial changes on landlords.

Impact of tax changes on the private rented sector, position paper.jpg
04 Sep 2023
Impact of tax changes on the private rented sector

Using survey data from Propertymark members, and other private and public sector organisations, this position paper highlights the detrimental impact that government decisions since 2015 have had on the tax and financial situation for landlords in the PRS.

15 Aug 2023
Tax incentives can power up energy efficiency standards

Propertymark has added their voice to a group of financial, commercial and housing sector partners in a letter to the Chancellor to encourage new fiscal support in the form of a simple tax restructure to allow energy performance improvements to be offset against rental income to help make investment more attractive for landlords.

empty room window.jpg
25 Jul 2023
Raising council tax premiums for empty homes would be ineffective

Responding to the Scottish Government’s consultation on the increasing council tax premiums for second and empty homes, Propertymark’s members are strongly against this approach, especially for second homes, and it is recommended homeowners should be incentivised to bring empty homes back into use.

The word tax spelled out on wooden toy blocks
13 Jul 2023
Exceptions to council tax premiums proposed

As part of the Levelling Up and Regeneration Bill, the UK Government is seeking views on the range of possible circumstances where properties in England will not be liable for either the long-term empty homes premium, the second homes premium, or both.

Northern Ireland Assembly, Resized.jpg
19 Jun 2023
Low confidence in Executive could undermine fiscal devolution

The Independent Fiscal Commission has published their report following a consultation on devolution of fiscal powers in Northern Ireland and made 23 recommendations with the goal of providing a comprehensive framework for delivering fiscal powers to the Northern Ireland Assembly.

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10 Apr 2023
Clear guidance in ADS legislation is needed

Propertymark is broadly in favour of the proposed changes to the Land and Buildings Transaction Tax (LBTT) Additional Dwelling Supplement (ADS) in Scotland, but our members are concerned about the technical and inaccessible language used in the consultation and proposals. Clear and user-friendly guidance should be written when changes are made to the legislation.

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03 Feb 2023
What CGT allowance changes mean for landlords and second homeowners

Chancellor Jeremy Hunt announced in his Autumn Statement in 2022 that the current Capital Gains Tax allowance of £12,300 is being halved to £6,000 from April 2023 and then cut again to £3,000 from April 2024. That could mean an increased tax bill for many property owners planning to sell in 2023, but what can be done to avoid it?

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