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Landlords who rent to Universal Credit claimants should be given tax breaks, the architect of the controversial benefits system has said.
Former work and pensions secretary Iain Duncan Smith, who oversaw the design of the policy, told the Landlord Investment Show in London that landlords who let homes to social tenants should pay less tax.
Duncan Smith criticised sweeping changes to tax laws that increased the costs of renting a property for thousands of landlords, enacted by the government he was a part of.
He said: “I think there have been some mistakes made. I think we really do need to ensure that we keep the social rented sector functioning, and with reasonable margins so that [landlords] stay in it, otherwise we’re going to be pushed to find rental properties for people and some of that pressure already exists.”
Appearing on a panel hosted by BBC presenter Andrew Neil, Duncan Smith added that he has asked the current government to reconsider how it might encourage more landlords to serve social tenants who pay through benefits.Full/source article SEE ALSO - Universal Credit-A TOTAL DISGRACEUP NEXT - Zoopla to ban phrase "No DSS" in listingsDON'T MISS - THREE out of FOUR tenants on UC in arrearsNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Isn't that just a mind-bogglingly complicated way of increasing LHA rates......
just unfreezing LHA rates will do the same thing without the additional bureaucratic complexity.
Also imagine how complicated it gets if your T improves their life situation and then stops receiving whatever is the relevant benefit.. Is child benefit a relevant benefit for this purpose....
- what if they're working part time and only getting a small top-up of their rent from UC, do you only get a tax break on the UC part of the rent or all of it....urgh toooooo complicated !!!!!
DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.
Just no joined up thinking from govt or councils in our sector
good to hear someone is thinking about the i was looking at the NLA stats last year was the first time in years we had more landlords leaving the sector then joining the sector
and this is the only start of the run fior the. door
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
IDS unfortunately is part of the problem .
He is / was part of the same outfit as Osborne.
Osborne had the tax brief
IDS had the UC brief
The tax policy created hurts yes but I can see why its been done . I suffer but I will be ok
The UC policy created from IDS`s brief is 10 x worse and a complete disgrace
The tenants suffering is real and fatalities have occurred as a result
I see daily the pain he has created by forcing people on to the streets and into food banks .
Jonathan Clarke. http://www.buytoletmk.com
Complicating things further sounds like a great solution.
The clown that brought our great country UC.
Why anyone would listen to him is beyond me.
Which party elected him leader???
UC was a good idea.
The implementation of UC by politicians and civil servants was a f**king shambles!
The implementation of UC by politicians....""""
Agreed: And the lead politician? IDS....
IBS talks the talk (yet again), but does nothing about making his Govt walk the walk. If this guy isn't going to bother getting any changes made, please retire to the HOL so he can get paid to have a good kip at taxpayers expense.