The Government should make it easier for landlords to incorporate their portfolios by removing stamp duty on rental properties transferred into limited companies, Propertymark claims.

That is one of the suggestions from the agency trade body after its released a report titled ‘The Impact of Section 24 on Buy-to-Let Landlords.”

The report examines the impact of restrictions on mortgage interest relief for buy-to-let landlords, warning that it is a factor in rent increases.

It also suggests that the scaled back reliefs are hitting landlord profits and prompting more to exit the sector, harming rental supply.

Landlords in the report also stated that they are concerned about the Renters Reform Bill, which will be carried forward by the UK Government under the new guise of the Renters Rights Bill.  

Propertymark suggests the Government should commit to a wider review of taxes relating to private landlords to promote long-term investment in the sector.

The report also recommends that taxes on extra properties and capital gains tax thresholds should be cut, with a goal of promoting long-term investment in the private rented sector.  

This seems unlikely though, given that the chancellor has warned of tax rises in her October Budget.
 Nathan Emerson, chief executive at Propertymark, said:   “Section 24 is having an impact on the private rental sector, and with a budget being announced for October, Propertymark are keen to see the UK Government to consider scrapping this measure.

“We need to see a level of support that encourages long term investment within the Private Rented Sector and recognises the understanding that private landlords play a crucial role when comes to providing diverse, safe and secure housing across the entire UK.”