News & Legal Updates
Sign up to news & legal updates
As anticipated there has been a furore raised in the private rental sector with the governments changes announced in the most recent budget. The chancellor’s plan aims to raise 600 million pounds over the next few years by restricting tax relief to buy to let investors. A number of investors are already changing their investment plans in relation to freeing up pension cash to invest in the property market. I have also been advised by a number of property management companies that landlords are talking about increasing rents to try and improve yields after the tax changes come into effect. My fear is that the unintended consequences of the governments’ plans will be increased rents, less properties being available for rental and perhaps even an increase in the number of rogue landlords who try and slip through the net as far as declaring rents for tax purposes. I am disappointed that the government did not look at the changes to capital gains tax rules as a means of increasing the money raised from the property market.
My view however, is that property investment is still a worthwhile addition to anybody’s investment portfolio and that the Scottish market in general and Dundee in particular offers a great place to invest. I will keep you advised as trends develop.
Partner – Head of Property
The opinions expressed in this site are of the author(s) only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this site is accurate and up to date. The site is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Site visitors should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this site. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.
Blackadders owns the copyright in this blog and all material contained on it. The material on this site may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.
Information passed to us via this site is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2020
Members of the Law Society of Scotland.
Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.Back to News & Legal Updates