No rethink on buy-to-let tax breaks says government

The Financial Secretary to the Treasury, David Gauke, has ruled out any rethink on the UK government’s proposals to reduce buy-to-let tax breaks from next year. In a letter to the Residential Landlords’ Association he states that proposals outlined in the recent budget are essential to establish a “fair tax system”. He also insists that the phased reduction on tax relief for landlords will not lead to a rise in rents “due to the small overall proportion of the housing market affected.” According to government figures only one in five landlords will pay more tax as a result of the change, which will be phased in over four years.

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