social facebook box blue 32 social twitter box blue 32 social linkedin box blue 32 social rss box orange 32

T. 0330 333 0701 E. This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Harrogate PPC - Blog

Proposed Tax Changes Could Hit Landlords

Proposals to alter tax breaks for second home owners have been announced by the government.

The aim of the proposals is to reduce the amount of Council Tax everyone else pays; the plans however could have significant impact on landlords.

Currently many Town Councils offer reduced rates for second homes, between 10 and 50% when the property is empty. According to Andrew Stunell MP, with over 300,000 long term empty properties in this country, it has equated to around £90 million in lost revenue in the last 2 years alone.

The current rules mean an unoccupied unfurnished property can currently claim full Council Tax exemption for up to 6 months or 12 months if undergoing major repair work.

The new plans though will affect these current rules and could possibly leave landlords having to pay a full Council Tax bill for this period, which it is believed may put landlords off of renovating their property.

The plans are currently in the consultation stage so are likely to change before coming into effect.

There are many potential implications - for both landlords and tenants. We'll keep an eye on the development and will aim to inform you regularly on anything that would potentially affect landlords' property returns.

 

 

Source: www.lovemoney.com

Latest Blog Post

  • 1
  • 2
  • 3
Prev Next

Current Economic Climate Shows Property …

19-11-2011

Current economic climate brings a lot of uncertainty, even in the markets seen 'safe' by professionals. Therefore an increasing numbers of investors are looking more to investing in property. The current high...

Read more

Proposed Tax Changes Could Hit Landlords

19-11-2011

Proposals to alter tax breaks for second home owners have been announced by the government. The aim of the proposals is to reduce the amount of Council Tax everyone else pays;...

Read more

Force 10 Property Management: Customer S…

18-10-2011

Force 10 Property Management: Customer Service Finalist for Multiple Awards

As we are now well into the second half of the year it is good to take some time to think about what we have done well and what we...

Read more

Twitter

Quick Contact

Phone:0330 333 0701






Property News