Higher taxes and tougher regulations have led to the disappearance of tens of thousands of rental properties
As a buy-to-let landlord of 15 years, Neil France had a feeling things were about to get worse for him and his sector.
“You’ll never lose votes for hammering a landlord. That’s the reality,” France, 68, said. “It used to be estate agents and bankers; now it’s landlords.”
He was right. In a surprise move, Rachel Reeves announced in her November budget that from April 2027 tax due on the income people received from property would rise by two percentage points. The increase will mean that basic-rate taxpayers will pay 22% on any income they receive from a rented property, while higher-rate taxpayers will pay 42%, and additional-rate taxpayers 47%.
“It will cost me an extra £2,500 a year,” said France, who owns seven properties in Merseyside and Essex, including three homes in Chelmsford, which are houses of multiple occupancy.
