Tax breaks for landlords selling to needy

Landlords who want to sell their properties to key workers or first time buyers should be given tax breaks, according to one property expert.

The government is desperate to find enough accommodation for all the people who want to get onto the property ladder so Lee Grandin, the managing director of Landlord Mortgages, says that landlords should be offered tax benefits.

This could range from either a discount in the overall amount of tax paid or an increase in the timescale in which it must be paid.

Mr Grandin said: "The government has plans to significantly increase the UK''s housing stock over the next ten years to accommodate the increased demand for owner occupied homes.

"Therefore, we propose that tax breaks are offered to landlords who sell their rental properties to first-time buyers or key workers."

This may help ameliorate the current problem where UK landlords face a capital gains tax bill of £4.1 billion which is an average of £48,000 per landlord.


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