Some 58% of landlords have witnessed an increase in their 2017/18 tax bill, according to new research
Paragon’s PRS Trends Report for Q1 2019 — which tracked the opinion and experience of over 200 landlords across the UK — found that those with three or more properties were more likely to report an increase in their 2017/18 tax bill than those with smaller portfolios.
Other key findings from the report included:
John Heron, director of mortgages at Paragon (pictured above), said: “These figures provide early insight into how the tax changes impacted landlords in the first year of implementation.
“The January tax deadline was the first real data point for measuring change and it’s clear that landlords are continuing to adapt their approach as the transition progresses.
“The fact that almost one-quarter of landlords intend to respond by selling property is bad news for tenants, impacting supply to the sector, driving rental inflation and ultimately making it more difficult for those that rely on the UK’s private rented sector for a home.”
