u/phpadam

Merger of NRLA & The Lettings Industry Council

Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

> “The NRLA and TLIC are long-standing supporters of greater professionalisation across the PRS, so uniting to champion the fantastic work responsible landlords and letting agents do for our sector is a no brainer. Together, we will continue to support the highly impactful work undertaken to date and fight for a better, fairer, more prosperous PRS which works in the interests of all.”

Theresa Wallace, Chair of The Lettings Industry Council (TLIC), said:

> “I have worked closely with Ben and the NRLA team for many years, and they share many of TLIC’s views when it comes to the need to build a lettings market which works for both landlords and agents. TLIC’s cross-industry, consensus-based approach has gone a long way towards ensuring the lettings market is able to play a pivotal role in the delivery of rented accommodation and with the NRLA’s help, we will take our work to the next level by providing even greater support for our members.”

Source: Twitter/X and NRLA

Higher rate taxpayers:

• Current CGT - 24%
• Proposed CGT - 40%

Additional rate taxpayers:

• Current CGT - 24%
• Proposed CGT - 45%

If you bought a BTL property for £250k. It's now worth £400k - a £150k gain. Under today's rates you'd owe ~£36,000 in CGT. Under Streeting's plan? ~£60,000.

An additional problem long term investors get no allowance for inflation. Invest £100k in 2016 and get £150k back today, and that's a gain of only £10k after inflation. But you pay £12k tax on that £10k of "real" gain. Effective rate 120%. Its a fiscal loss, that is a disincentive to long term investment

Source: Twitter/x

Despite reports of Rachel Reeves capping rents. No 10 has publicly ruled out a rent freeze, saying it is “not the approach we will be taking”. Economists warned a freeze would shrink rental supply and push up rents — undermining Labour’s own housing targets. Shares in BTL lenders briefly fell on the rumour, showing how sensitive the market is to speculation.

No 10 spokesperson said “not the approach we will be taking” and “We have no plans to implement this. Our focus remains on cutting bills and backing renters alongside lower energy prices.”.

Not an unespected uturn since Labour Leadership resisted a proposal to include rent controls as part of Labour’s renters’ rights reform (which come into force on Friday, 1st May).

Chris Curtis, head of the Labour Growth Group, said: “Rent controls are a dead end. It’s basic arithmetic, if we want lower costs, we need enough homes for everyone. You can only fix that by building enough bloody houses.”

Initial reports posted on /r/uklandlords here and here.

Denial reported in: Guardian and Financial Times