Scottish landlords will today meet with senior UK Government officials in London to urge them to rethink planned tax changes for private landlords. These tax changes threaten investment in the Private Rented Sector (PRS) at a time when Scotland is facing a long-term housing crisis.
Representatives from the Scottish Association of Landlords (SAL) will meet with senior Treasury officials in London to point out the consequences of the changes announced in the Budget in July.
In his Budget statement, the Chancellor has proposed reducing tax relief on buy-to-let mortgages and replacing the current “wear and tear” depreciation allowance used for items such as furniture. These changes will significantly increase costs and result in reduced investment and less upgrading of properties. Some landlords will exit the market altogether.
“Even the numbers put forward by the Treasury, which claims only 1 in 5 landlords will be affected by the tax changes, represents a huge swathe of the sector. We believe, when taking the changes to ‘wear and tear’ into account, the actual number will be a lot higher.”
“We have heard just last week in the press from a landlord in Edinburgh about how these tax changes will make it harder for families on benefits to find accommodation in the private sector, increasing demand on council housing which is already over-subscribed across Scotland.”
“Both SAL and our members are in favour of ensuring the highest possible standards in the sector. We are working with the Scottish Government to achieve that but these measures could see landlords forced to pass at least some of the cost burden on to tenants in the shape of increased rent. Nobody wants to do that.”
Notes to Editors
For more information, contact Graeme Downie on 07973 300 184 or email email@example.com
About the Scottish Association of Landlords (SAL) – https://www.scottishlandlords.com/
Established in 2001 having developed from various local groupings of landlords and letting agents, the Scottish Association of Landlords quickly grew to be the largest and only dedicated national landlords organisation representing landlords and agents throughout Scotland.
Through our fourteen local branches and with members from Shetland to Stranraer, the organisation has strong links with Scottish local authorities and actively campaigns at local and national level on behalf of members. Our acclaimed training programme, delivered through sister organisation Landlord Accreditation Scotland (LAS), offers our members the opportunity to meet locally and learn from each other’s experience as well as gaining knowledge from some of the country’s most experienced industry trainers.
Policy, lobbying and campaigning has been an important aspect of SAL’s work since our inception. Our Policy & Parliamentary Affairs department works at the heart of government in the Scottish Parliament, as well as Westminster where relevant, with most of housing matters devolved to Holyrood.