It would be instructive to find out how many of our readers are property landlords. It would be even more illuminating to find out how many have chosen to get out of the game altogether.
And who could blame them? Ever since George Osborne slashed income tax relief for private landlords in 2016, it’s been open season on individuals looking to build wealth from property and/or supplement retirement income. By dramatically reducing tax relief for interest payments on buy-to-let mortgages, the then Chancellor of the Exchequer was essentially taxing private landlords on costs as well as profits.
By contrast, landlords who had incorporated into limited liability arrangements were still able to deduct their interest payments from revenues. It was a clear double standard. But perhaps the most galling aspect of the decision is that the government claimed that it was acting in the best interests of tenants.