In response to a petition signed by over 50,000 people, the government has recently announced that they will be reinstating tax relief for landlords. This is great news for landlords who have been struggling to make ends meet due to the economic downturn caused by the coronavirus pandemic.
The tax relief was originally introduced in 2020 as part of the government’s response to the pandemic. It allowed landlords to claim a tax deduction of up to £3,000 for any losses incurred due to the pandemic. However, the relief was due to expire at the end of March 2021.
The petition, which was started by the National Residential Landlords Association (NRLA), argued that the tax relief should be extended as many landlords were still struggling financially due to the pandemic. The petition was signed by over 50,000 people and the government responded by announcing that the tax relief would be extended until the end of September 2021.
This is great news for landlords as it will help them to cover some of their losses due to the pandemic. It will also help to ensure that tenants are not unfairly impacted by rent increases due to landlords’ financial difficulties.
The government’s decision to reinstate tax relief for landlords is a welcome one and shows that they are listening to the concerns of those affected by the pandemic. It is also a sign that they are taking action to ensure that those affected by the pandemic are not left behind.
It is hoped that this tax relief will help landlords to get back on their feet and continue providing quality housing for tenants. It is also hoped that this will help to ensure that tenants are not unfairly impacted by rent increases due to landlords’ financial difficulties.