Mar 22, 2012
David Salusbury, Chairman, National Landlords Association (NLA), commented on this years budget:
“Regrettably, there has been no recognition in the budget statement of the barriers to investment presented by the current system of property taxation.
“While the NLA believes the Government is justified in closing the Stamp Duty loophole to prevent tax avoidance, the Treasury should not ignore the impact these measures will have on legitimate companies which buy property to let as their primary business activity.
“This is likely to adversely influence investment decisions made by landlords who operate as small businesses and provide much needed housing.
“The NLA will seek discussions with the Treasury to see whether it is possible to differentiate genuine property businesses from companies set up purely for tax-avoidance.
“Calls for a comprehensive review of Stamp Duty continue to be unheard. This could have been a good opportunity to stimulate more investment and encourage growth in the residential property market.”