The Budget
Yesterday's Budget names our sector exactly once, in a VAT note, as "short-term rental accommodation". The phrase "short-term let" appears nowhere in it.
It still put 4 points on the tax rate on our income.
From 6 April 2027 property income gets its own rates. OOTLAR 1.2: "the property basic rate will be 24%, the property higher rate will be 44%, and the property additional rate will be 49%."
That is not 2 points. Budget 2025 announced 2 from April 2027, yesterday added 2 more from the same date, and the main rates stay at 20, 40 and 45. So on one day it goes 20 to 24, 40 to 44, 45 to 49…
The skinny
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