MBE 2016: Philip Hammond won’t repeal buy-to-let tax changes
Chancellor Philip Hammond won’t repeal any of George Osborne’s tax measures against buy-to-let landlords, according to Mortgages for Business managing director David Whittaker.
Former Chancellor Osborne introduced a 3% stamp duty surcharge and set in motion a reduction in the amount of mortgage tax relief higher rate landlords can claim back from 45% to 20% between 2017 and 2020.
Whittaker said: “Philip Hammond is a meritocratic Chancellor, he’s not going to repeal anything, and anyone who thinks he’s going to roll back any of Osborne’s plans are living in fantasy land.
“But I doubt he’s going to do anything more unwelcome to landlords; there’s plenty already going on.”
Hammond has been Chancellor since 13 June 2016.