New Buy-to-Let tax ‘puts the UK out of step with how other countries approach the PRS’, says Kathleen Scanlon
Kathleen Scanlon discusses research on the PRS across Europe and the United States in The Telegraph. She touches on some possible implications that the ne tax Buy-to-Let tax may have on professional small landlords.
“Kath Scanlon, research fellow at LSE London and co-author of the 2011 report, Towards a sustainable private rented sector: The lessons from other countries, said the new buy-to-let tax “puts the UK out of step with how other countries are approaching the sector”.
“The one thing you can say about people with mortgages on buy-to-let properties is that they have made a conscious decision that they want to be in the business of being a landlord,” she said, “whereas people with no mortgages perhaps never made any such decision – some just happened to be saddled with a property they are renting out.
“The people who will leave the sector are likely to be at the more professional end of the small landlord spectrum and are probably not the ones who you would want to encourage to leave.”
So just how much better off are overseas landlords compared with those in Britain?”
The article can be read here on The Telegraph.