Ministers 'should remove buy-to-let income tax breaks'
Date posted: 20 May 2010
The income tax breaks that buy-to-let landlords are able to apply for should be removed by the new government, according to one expert.
Published by Tim Hill.
Ministers should get rid of the current income tax breaks that the UK's buy-to-let landlords are able to apply for.
That is according to the PricedOut spokesperson Katy John, who feels that there are a number of buy-to-let tax breaks that the government could look to remove, in addition to various loopholes.
She commented: "The income tax breaks enjoyed by buy-to-let landlords need removing and loopholes such as the ability to flip primary residence designation, or remove cash tax free by remortgaging, need to be closed."
The expert believes that the UK's economy loses out on billions of pounds because of loopholes and tax breaks.
Her remarks follow the publication of new figures from FindaProperty.com, relating to the country's property asking prices.
The website revealed earlier in May that, over the course of the past 12 months, property asking prices have gone up by 1.8 per cent.
Please contact Michaela Henson, Head of Property for further information or call 01223 225178
Click here to email or call on 0207 382 8060.
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