01902 711370 / enquiries@uklandlordtax.co.uk / Get In Touch Today

So what has the Spring Statement done for landlords? In short, not much.

Indirectly, the measure to cut the VAT on materials such as solar panels, heat pumps and insulation will help if you were thinking of any improvements in this area. Generally, the 5p cut in fuel duty also helps. Other than this there was not much else.

As a landlord myself, the cost-of-living crisis and further interest rate rises are something I can see as having the biggest short-term impact. Some of my tenants are on some form of Working Tax Credit or Universal Credit. I do worry for them that the massive hike in energy costs will have a deep impact on their finances. It is clear to see that some may then struggle to meet monthly rent payments. Having been a landlord since the age of 21 (I’m 58 now) my approach is to always help a tenant in difficulty.

I speak to landlords every day. Despite some in the media and politics wishing to tar all of us with the same brush when some horror story is uncovered of a bad apple, I know many landlords go out of their way to help their tenants when times are tough.

When it comes to interest rates, as a salty old sea dog, (as my wife now refers to me..!!) my view has always been to fix my mortgage deals on a five-year rate. This gives me certainty and generally allows rents to naturally increase over that time until the next fix. Others prefer to get the best rates on a more short term basis. It all comes down to your risk outlook and your property portfolio ambitions.

Inflation rises and falls. Interest rates go up and down. Governments take with one hand and give with another. For me, investing in property has been a long-term strategy. One that has far outstripped other investments and in my opinion will continue to do so for many decades to come.

Though we have thousands of clients, I still love speaking to landlords. Whether you are thinking of starting investing, own one property or a hundred I know what it is like for you. I try and give clear advice that makes sense, in plain language with no jargon or long-winded technical explanations.

If there is one piece of advice I would give to anyone after a Spring Statement or a Budget it’s this. Whether you’re buying, selling or letting, getting the right tax advice is crucial and could save you £’000’s. If you need more advice on other property tax concerns affecting landlords feel free to get in touch on 0800 907 8633, via tax@fixedfeetr.com or via our online contact form.

If you enjoyed this blog post on what has the spring statement done for landlords then why not check out our guide on buying property through a limited company or buy to let costs next?

Thandi Nicholls Ltd
Creative Industries Centre
Glaisher Drive
Wolverhampton
West Midlands
WV10 9TG