Insurance News Archive

Calls for buy to let insurance policyholders tax relief

Landlords with buy to let property insurance cover should be subject to tax allowances for money spent improving their buildings' energy efficiency, an industry group has said.

The Residential Landlords Association (RLA) suggested that rental homes with such energy-efficient upgrades in place were "essential".

Alan Ward, chairman of the RLA, said: "Roll-over tax relief on the sale of one property, for investment in another, would help to provide more economical, affordable homes to rent."

His comments came in the wake of a House of Lords debate as to whether buy to let property insurance policyholders should be recognised as businesses.

Mr Ward argued that, with 40 per cent of the private rented sector's buildings constructed before 1919, the industry "cannot afford" to allow properties to decline.

Earlier this week, buy to let property insurance customers were told that more lenders were expected to resume offering capped mortgages as it becomes more likely that interest rates will rise, according to What Mortgage.

04 Aug 2010