"Additional tax on rental income is disastrous for landlords"

Jason Tebb, president at OnTheMarket: “The additional tax on rental income is disastrous for landlords.

“After a decade of being squeezed by mortgage interest relief cuts, wear-and-tear allowance removal, SDLT surcharges, fiscal drag, and endless red tape, this move further erodes net yields, especially for highly leveraged landlords.

“This reform will simply see more and more landlords removing themselves from the PRS sector for a further squeeze on rental supply.”