US EditionReeves ‘eyes tax hike for landlords’ with ‘rental national insurance’: Report
The proposal targets unearned rental income with an 8% national insurance levy, expected to raise £2 billion without increasing existing tax rates, aiding budget deficit reduction.
- The Treasury is reportedly considering imposing national insurance on rental income from landlords to raise £2 billion for the autumn budget.
- Some Labour MPs and Government aides support the proposal, viewing landlords as a way to target 'unearned revenue'.
- Allies of Rachel Reeves argue the proposals avoid breaking Labour's tax pledges as it expands the income to which the levy applies rather than raising rates.
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What a new tax on rental income would mean for landlords - and your rent
Landlords could face extra taxes under plans being considered by the Treasury.The Government is examining proposals to apply national insurance (NI) to rental income in the hope of raising £2bn, according to The Times.It comes as Labour is desperately searching for tax rises that could help fill a hole in the public finances.But some experts have warned that new taxes on rental income could end up hitting tenants, as landlords will seek to recou…
·London, United Kingdom
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Landlords could face £2billion tax increase under Rachel Reeves plans to plug black hole - The Mirror
Labour insiders have suggested property income could be 'a significant potential extra source of funds' and landlords were a way of targeting 'unearned revenue'
·London, United Kingdom
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Coverage Details
Total News Sources28
Leaning Left5Leaning Right5Center6Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 31%
C 38%
R 31%
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