The National Residential Landlords Association (NRLA) is urging landlords to write to their local Members of Parliament (MPs) to express concerns over tax increases announced in the Budget. Chancellor John Healey stated that tax rates on property and savings income will rise by a further two percentage points from April 2027.
This increase follows a previous rise announced last year by Rachel Reeves, which the NRLA describes as a 'double whammy'. The association warns that these measures could negatively impact renters by pushing up rental costs.
Ben Beadle, chief executive of the NRLA, called the tax hike "unjust and extremely shortsighted," stating it would hurt renters. The Office for Budget Responsibility (OBR) also noted in its outlook report that these measures risk landlords leaving the market and could lead to a steady rise in rents.
The NRLA has advised landlords to include in their letters to MPs the impact of the tax rises on them, whether they will need to pass costs to tenants through rent increases, and their concerns about the national landlords' database tweak.