Tax breaks for property investment landlords to boost housing?

photo credit: BinaryApe

UK property investment landlords could enjoy new tax perks as the government looks to support the housing market.

Officials are expected to approve the changes, recommended by the ‘Rugg Report’ review of the private rented sector.

Other proposals include a “light touch” licensing system for landlords and mandatory regulation for letting agencies.

Tax alterations for landlords include changes to stamp duty to encourage landlords to buy more homes for sale.

Housing minister Margaret Becket said:

“The private rented sector plays a really important role in the housing market.

“Many of us have rented a house at some stage of our lives and it’s crucial that we have a high quality sector that works well for both landlords and tenants, and encourages mobility.”

The Rugg report, developed by Julie Rugg of York University, was commissioned by the government in January 2008 to look at what problems tenants and landlords face in the rental sector.

Issues examined by the study included the professionalism of landlords, quality of properties and problems of private renting.

Officials said the government would “carefully consider” the recommendations before deciding to what extent they will be implemented.

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