Lettings sector backs stamp duty reform

Leaders’ chief operating officer Claire Tobin is one of many letting industry figures to speak up in favour of the Chancellor’s stamp duty reforms and the positive impact they are likely to have on the private rental sector.

“Investors may consider a greater variety of properties due to these changes. With more investors entering the market tenants will benefit from more choice of properties.

“As demand for small family homes is increasing – and this type of property would usually have incurred a high stamp duty cost for investors – these changes are likely to improve the availability of this type of property which will in turn allow some tenants to climb the rental property ladder” she says.

Meanwhile the chief executive of the National Landlords Association, Richard Lambert, says his organisation is delighted with the change

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“The NLA has argued for many years that a progressive system would offer a fairer and far less distorting means of taxing property purchases. The introduction of a straightforward marginal system of taxation will mean private landlords will now not only face lower costs when acquiring property, but also have funds to implement property improvements and keep rents down” he says,

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