'The abolition of the furnished holiday lettings regime was expected - it levels the playing field with other landlords and is better for local communities'

Mark Harris, chief executive at SPF Private Clients: “The abolition of the furnished holiday lettings regime was expected - it levels the playing field with other landlords and is better for local communities.

Section: Opinion

Mark Harris, chief executive at SPF Private Clients: “The abolition of the furnished holiday lettings regime was expected - it levels the playing field with other landlords and is better for local communities.

“Is there going to be a flurry of sales from landlords because they will make a saving on capital gains tax? No, they are in it for long-term gain, capital appreciation combined with income yield. 

"Of course, that yield has been hit hard with higher interest rates and more regulation, as well as the inability to offset mortgage interest, but professional landlords are committed and not going to start selling because of a slight reduction in CGT. Perhaps with rents so high the last thing we need is a reduction in homes to rent anyway?"

Source: BTL Insider — https://btlinsider.co.uk/the-abolition-of-the-furnished-holiday-lettings-regime-was-expected-it-levels-the-playing-field-with-other-landlords-and-is-better-for-local-communities