March 2024


The UK Spring Budget announcement is an annual event where the Chancellor outlines the government’s fiscal policies and economic forecasts for the coming year. This year’s budget contains some key changes that could impact landlords across the country. Tax Cuts Announced For Holiday HomesThe Chancellor has made significant changes to the tax regime for furnished holiday lettings. Specifically, he has abolished the furnished holiday lettings tax regime, resulting in holiday home landlords potentially losing out on significant tax breaks. The Chancellor highlighted that this move aims to address the distortion caused by a lack of available properties for local residents. Given the prominence of holiday homes, especially in coastal communities throughout Northern Ireland, this change may have significant implications for landlords in these areas. Capital Gains Tax Cut to Affect Landlords and Buy-to-Let Market In a surprising move, the Chancellor announced a reduction in the higher rate of property Capital Gains Tax…