Property Hawk the landlord's homepage since 2006
Free Tenancy Agreement FREE tenancy agreement
Free Landlord Software FREE landlord software
Home | Property Manager | Free ASTs | Landlord Forms | Mortgages | Insurance | Inventory | Magazine | Landlords Bible | Directory | Forum | Training | News / Blog |

Monday, February 09, 2015

Landlords take £26.7 billion from taxpayers

Campaign group Generation Rent have accused landlords of taking £26.7billion a year from the UK taxpayers purse.

The figure is an estimated total, based on the £9.3 billion paid out in housing benefit, £1.69 billion given as tax relief for “wear-and-tear”, £6.63 billion of mortgage interest payments offset against tax and £9.06 billion of annual average capital gains.

Generation Rent are calling for a landlord levy of 22% on any rental income, which they believe would raise a figure in the region of £9.3 billion that they propose to be used to build 90,000 new council houses.

Alex Hilton of Generation Rent said:

“While renters have borne the brunt of austerity, landlords have enjoyed their own little economy the size of Morocco’s supported by subsidies from the UK taxpayer that could be better used fixing the housing crisis.”

Take advantage of our discounted landlord insurance rates

No comments: