iHowz submission to HMRC in respect of the Spring Budget

iHowz have just submitted a paper to the Treasury in respect of the next Spring Budget.

The whole paper can seen here here, and calls for:

  1. Rescind Section 24 of the 2015 Finance Act
  2. Allow Registered Landlords to reclaim Supplemental 3% SDLT on rental properties.
  3. Remove the requirement to pay Supplemental 3% SDLT on lease extensions
  4. Index the Supplemental 3% SDLT threshold or link it to the standard SDLT threshold
  5. Extend period for filing CGT return to 6 months
  6. Make residential letting property a qualifying asset for CGT roll-over relief
  7. Remove CGT 8% surcharge, or some sort of retirement relief
  8. Restore the LHA link to local rents, returning it to the 30% percentile
  9. Energy Efficiency costs:
    • 100% write down of costs in year of spend.
    • Grants with a long-term scheme which recognises a realistic approach (fabric first + achievable measures)
  10. Zero VAT rating should apply to Conversion, Refurbishment and Retrofit Works
  11. Legislation to stop council tax re-banding of individual rooms.

 

 

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