The Chancellor, George Osborne, has announced a series of measures impacting on the property industry, including:
Other key parts of the Budget announcement are:
- Spending cuts by government departments to be announced this autumn;
- Forecast of UK enjoying 2.4% growth in 2015, 2.3% in 2016 and 2.4% in 2017;
- UK growth forecast to be stronger than US, Germany and France;
- Budget deficit down from around 10% of GDP in 2010-11 to forecast 3.7% in 2015-16;
- Budget surpluses to be achieved by 2019-20.
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Tax relief cut on mortgage interest? PRS supply dwindling and house prices plummeting due to exiting landlords in 3...2....1....
Didn't see this one coming.............. much.........
How will this affect landlords whose properties are held in a limited company?
@ Mark. Good question. A different tax regime indeed. If it's unaffected, we'll see a huge resurgence in Ltd Co BTLs.
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