U-turn on BTL attack will not happen

The Government’s sudden attack on landlords is unlikely to end anytime soon despite widespread criticisms. The Government has come under attack for its plans to introduce a 3 per cent stamp duty surcharge on buy-to-let and second home purchases and slash the tax relief that landlords can claim on buy-to-let income. The CML is the latest in a long line of commentators calling for a Government U-turn on the buy-to-let onslaught. The trade body is urging the Government to reform its implementation plans for a stamp duty surcharge, to mitigate potentially negative impacts on the housing market as a whole. Paul Smee (left), CML Director General, said, “Our longstanding view is that stamp duty is a blunt policy lever. Given the complexity of the proposals, we also suspect that in practical terms the surcharge could cause more problems than it solves. We urge the government at least to move away from a position where people will have to pay and then potentially claim back to one where payment is deferred, and only triggered if the buyer genuinely falls into the intended target category.” But David Cox (right), Managing Director of ARLA, does not expect a change in Government policy any…