Chancellor ‘missed a chance to ease BTL pain’

The Autumn Statement has been dubbed by industry experts as a wasted opportunity to scale back punitive buy-to-let reforms that will hit landlords and tenants.

Ahead of the statement, members of the buy-to-let community were hoping that Chancellor Philip Hammond would water down or scrap the stamp duty land tax surcharge introduced in April this year, and the changes to buy-to-let tax relief that will be effective from April 2017.

The surcharge has seen buyers of second homes and buy-to-let properties pay an additional 3 per cent to the Treasury, while the tax relief changes will cause landlords to lose increasing amounts of tax relief every year until 2020.

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