Housing minister raises concerns about “section 24” tax change
Scotland’s housing minister Kevin Stewart MSP has recently written to the chief secretary to the UK treasury to express concerns about the impact of the “section 24” tax change, which reduces landlords’ tax relief on mortgage/finance interest. He writes: –
“…in recent engagement with private landlords in Scotland, many have highlighted to me that this change could result in them leaving the sector. Such concerns were evident at the recent (SAL) Scottish National Landlord Day conference, where landlords highlighted it as their biggest concern within the sector at the present time…”
The letter goes on to express concerns that a similar tax change which was introduced in Ireland in 2009 led to a sharp rise in rents as landlords attempted to offset their increased tax bill.
As this element of income tax legislation is reserved to the UK Government, the Scottish Government does not have powers to reverse the tax change. However, it is encouraging to know that the housing minister is listening to the concerns of Scottish landlords and taking action to pass their concerns on to the relevant decision makers.
SAL has for some time campaigned against this decision of the UK government and will continue to do so. In partnership with the Residential Landlords Association (RLA) in England and Wales, we ensure that your views are represented at the very highest level of government.
Pictured is Kevin Stewart MSP being interviewed by Sally Magnusson at National Landlord Day in November 2017