Landlords: Tax Allowances

Treasury written question – answered on 14 March 2023.

Alert me about debates like this

Photo of Justin Madders Justin Madders Shadow Minister (Future of Work), Shadow Minister (Business and Industrial Strategy)

To ask the Chancellor of the Exchequer, whether his Department has made a recent assessment of the potential impact of section 24 of the Finance Act 2015 on the (a) availability of private rental housing stock and (b) rental prices.

Photo of Victoria Atkins Victoria Atkins The Financial Secretary to the Treasury

The Government implemented a set of reforms to restrict finance cost relief to the equivalent of the basic rate of income tax to address unfairness and make sure that all landlords are treated the same.

To minimise the impact on landlords who are affected, the Government chose to act in a proportionate and gradual way. The restriction was announced almost two years before its implementation and was phased in over four years to give landlords time to adjust to the changes.

The Government keeps all tax policy under review.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.