Taxation of property

Bricks and mortar

Becoming a landlord has been an attractive proposition for anyone who could raise a deposit, thanks to a prolonged period of low borrowing costs and generally rising property values.

The housing market, helped by the temporary cut to stamp duty, has performed much better than expected over the past year, with prices rising to record levels. Stamp duty cuts and the employee furlough scheme have both been extended to 30 September, so this situation is expected to continue during 2021, although the property market may well cool off later in the year. The longer-term impact of the UK leaving the EU also needs to be factored in.