Both live-in private landlords and the UK economy would benefit from the income tax threshold being raised for those who rent out rooms in their homes.

That is the view of National Landlords Association (NLA) chairman David Salusbury, who has said that a number of people may be avoiding renting out rooms due to the "hassle factor"of having to complete self-assessment forms.

Landlord rent from lodgers up to £4,250 is not taxed, but a new Raise the Roof Campaign is lobbying to increase this to £9,000.

The NLA is supporting the initiative and has indicated that the threshold needs to rise to reflect rent inflation over the years.

Mr Salusbury said that increasing the tax threshold would be "a win-win situation that helps both parties". He also suggested that "it is about time the exemption reflected the increase in market rents".

Meanwhile, property organisations across the UK such as the National Association of Estate Agents have called on the government to keep the stamp duty threshold at £175,000 instead of changing it back to £125,000 in the new year.

Written by John Weeks
ADNFCR-2002-ID-19452144-ADNFCR

Related posts:

  1. Retrospective rise in AST threshold could catch landlords with buy to let property investments on the wrong side of the law
  2. NLA issues landlord rent arrears warning
  3. Arla reports rise in haggling tenants
  4. Landlord rent ‘pretty firm’
  5. Capital gains tax to rise under coalition government

Leave a Reply

You must be logged in to post a comment.

HOME