Tax relief for home improvements
The Residential Landlords Association (RLA) has welcomed a tax incentive recommendation for private landlords looking to improve the quality of their property, as made by a House of Lords committee.
The committee was looking at the regeneration of seaside towns and communities. The report recommended: “The introduction of stronger incentives for private landlords to improve the quality and design of their properties…. This might include tax relief for making improvements to properties.”
The RLA has long argued that the government should use taxation more positively to support the majority of landlords who do a good job and seek to do the best for their tenants. This has included the RLA’s call to make any work a landlord carries out to improve the energy efficiency of rental properties – as recommended on an Energy Performance Certificate – to be tax deductible.
This backing from the committee is a welcome one and follows a lengthy campaign from the RLA. Landlords who committed to investing in, and raising the standards of, their rental properties should be better supported in their efforts where possible. And the passing of this proposal by the government would certainly be a step in the right direction.