George Osborne’s tax raid on buy-to-let properties nets £2.7bn: Figure is twice as much as officials expected – Daily Mail

George Osborne’s tax increase for landlords that purchase property to rent out has generated controversy. This tax hike is called a tax raid, which seemed to to immediately influence the amount of homes being purchased by landlords. it was said that motivation for the tax rate increase, was to alleviate some of the pressure on first-time home buyers; the pressure came from competition on the market because of wealthy home buyers purchasing by-and-let properties. It seems as though landlords are beginning increase to purchase of rental properties again.

Key Takeaways:

  • The tax raid initiated by George Osborne has raised more money than expected.
  • While the policies were damaging at first, landlords are beginning to buy homes once again.
  • A think tank is advising that this tax be done away with.

“While the policies had a damaging effect on buy-to-let transaction initially, there are signs that landlords are beginning to buy homes once more”

Read more: https://www.dailymail.co.uk/news/article-5037589/Osborne-s-tax-raid-buy-let-properties-nets-2-7bn.html

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